National Bank

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DOCUMENTATION
The party who requires a pay order will get a printed application from the bank. He will fill it and deposits the amount and commission. The bank charges are same as on demand draft.

  • Bank Serial No.
  • No. of  PO
  • Central No.
  • 0.02% With holding tax

TELEGRAPHIC TRANSFER (TT)
In this case the authority is given from one bank to other on the behalf of the customer through telecommunication to debit their inter office account through them and credit their parties account mentioned in TT. It is an inter bank transaction. Telegraphic transfer is an instant transfer of funds. Through this method applicant can transfer money from one place to another place. There are two types of TT, Both types of TT are maintained in separate registers, test is applied by the manager of every amount of TT.

  • Incoming TT
  • Outgoing TT

Applicant has to fill a form along with depositing amount to be transferred and bank commission. MCB charges the commission at the same rate as in the case of demand drafts.

Documentation

  • Issuing Branch Name & Code
  • Beneficiary Branch Name & Code
  • No. of  TT
  • 60 Rs Postage and 140 Rs for Fax
  • Amount in words & Figure
  • 0.02% With holding tax           
  • Test key

Mail Transfer (MT)
As the name shows, it is transfer of money in the shape of document through mail. Procedure is like TT. The transfer of funds from one place to another by mail is called Mail Transfer (MT). The MT can be foreign or domestic. The applicant who is desiring to remit the funds by way of Mail Transfer can either deposit cash or ask the bank to debit his/her account with the cost of MT including the bank charges. These all measures are for safe transfer of funds.

Documentation

  • Issuing Branch Name & Code
  • Beneficiary Branch Name & Code
  • Number of  MT
  • Amount in words & Figure
  • 0.02% With holding tax           
  • Test key

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