It Is Illegal for a Bank to Make Different Check-Cashing

question 38

True/False

It is illegal for a bank to make different check-cashing rules for customers and noncustomers.

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Definitions:

Due Date

The specified date by which an obligation, such as a bill or assignment, must be completed or paid.

Remittance

The process of sending money in payment or as a gift, often referring to funds that are sent by migrants back to their country of origin.

Discount Period

The time frame within which a payment can be made at a reduced rate before the full invoice amount becomes due.

Discount Date

The specified date when a payment is to be made earlier than the due date at a reduced amount, as a motivation for early payment.