Payoutsito + Deposito

1. What is the most accurate definition of SWIFT?*

• Is a cooperative society of member banks that facilitates international transfers between partners

• They are a group of SWIFTIES who work together.

• A financial message system used exclusively for domestic transfers within a single country

Select any CORRECT options that are examples of SWIFT fees.

• SWIFT – NOT ME

• SWIFT – SHA

• SWIFT - SEPA

• SWIFT - BEN

Customer is making a domestic transfer to beneficiary’s JP Morgan Chase Bank located in California. However, customer used a routing number for JP Morgan Chase Bank located in NY. Will the payment be successful?

• Maybe
• Yes
• It depends
• No

Payment & Collection Capability (PCC) is a document used to refer if customer entered a correct beneficiary account details.

• YES

• NO

Recall is an option given to customer when the customer needs to:

• Locate the funds

• Reach out to the beneficiary bank

• Update the bank account details

• Retrieve the dispatched payment

• All of the above

Customers can physically go to the bank branch to open a Global Account

• Yes

• No

Alvin has 2 USD Global Accounts. 1 Local USD GA ending in 5423 the other a HK GA ending in 2234. He provides the details of the GA ending in 5423 to his client in California to pay for the service. Where do these funds go?

• Into the GA ending in 5423

• Into the USD currency in the wallet

• Incorrect GA details provided, so will bounce back

• Into the primary USD GA

With Linked account, customers can add funds from their linked bank account to AWX or transfer out funds from AWX to their LBA

• True

• False

Settlements team deal with compliance related things and sometimes review deposit before crediting to the account

• True

• False

TM team deal with compliance related things and sometimes review deposit before crediting to the account

• True

• False