ACI
3I0-013 · Question #107
If a bank incurs interest charges from having overdrawn an account due to a late payment from acounterparty:
The correct answer is C. The bank should file a complaint with ACI's Committee for Professionalism. See the full explanation below for the reasoning.
Question
If a bank incurs interest charges from having overdrawn an account due to a late payment from acounterparty:
Options
- AThe bank is entitled to seek reimbursement from the party responsible for the late payment.
- BNothing can be done to compensate the bank for the interest charges it incurs.
- CThe bank should file a complaint with ACI's Committee for Professionalism.
- DThe bank will automatically be reimbursed by the party responsible for the late payment.
How the community answered
(25 responses)- A8% (2)
- B4% (1)
- C84% (21)
- D4% (1)
Community Discussion
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