For which item does a bank NOT issue a debit memorandum?
A)To notify a depositor of all withdrawals through an ATM.
B)To notify a depositor of a fee assessed to the depositor's account.
C)To notify a depositor of a uncollectible check.
D)To notify a depositor of periodic payments arranged in advance, by a depositor.
E)To notify a depositor of a deposit to their account.

Question

Quizplus · Accepted Answer

A debit memorandum is used to notify a depositor of a deduction or withdrawal from their account. In the case of a deposit, there is no deduction or withdrawal, so a debit memorandum would not be issued.

For Which Item Does a Bank NOT Issue a Debit