Describe the difference between consumer fund transfers and

Describe the difference between consumer fund transfers and commercial transfers.

60 words min

Solution

Consumer Fund Transfer :

Consumer fund transfer is a transfer done by the account holder from his own personal account. According to the consumers fund transfer ,give more importance to their consumers and their funds. Consumer fund transfer is valid only for the consumers who have given authorization.

Commercial Transfers :

Commercial Transfers are from commercial people. Commercial transfers satisfies the person in his transaction to whom it has to be paid in his payment order. In this commercial transfers funds are transferred around the world and most of the transactions are related to business. Commercial transfers are directly connected with the bank in transactions so check is not important .