Faisal KhanAnswered Feb 6, 2013Its additional administrative work. Banks are licensed to charge you for this, as per their SOC (Schedule of Charges).
Why do banks impose fees for placing a stop payment on a check?
Faisal KhanAnswered Feb 6, 2013Why do banks prohibit storing cash in safe deposit boxes, and how would they know?1 ansWhat happens to funds in forgotten or unclaimed bank accounts?1 ansDoes the money in bank accounts physically exist or only digitally?1 ansCan an illiterate person operating a current account issue a cheque using a thumbprint?1 ans