Question

List  out  the  characteristics  relating  to  bank  transactions.

DSERT Class 10 Business Studies Ch. 1 Bank Transactions

Answer 1

The main characteristic of any bank transaction is the contractual relationship that forms between a banker and a customer. It is like any commercial transaction.The relationship between the banker and the customer is the foundation on which mutual duties, privileges and liabilities are built. The bank performs various transactions on behalf of the customer, for a fee.