The bank informs a customer that a service charge has been assessed on their account by including a credit memorandum in the monthly bank statement.

Name: The bank informs a customer that a service charge has been assessed on their account by including a credit memorandum in the monthly bank statement.
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Question

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A service charge assessed on an account is typically communicated through a debit memorandum, not a credit memorandum, as it represents a charge or deduction from the account, not a deposit or addition.

The Bank Informs a Customer That a Service Charge Has