BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1 hr
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4 hr
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48 hr
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24 hr
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Detailed explanation-1: -The cooling period for this limit is 24 hours. After 24 hours, the transaction limits will be relaxed to the normal transaction limits as mentioned above. Q: How secure is BHIM Baroda Pay UPI app.
Detailed explanation-2: -Cooling period is the time set by the bank during which fund transfer is not allowed to a newly added beneficiary. Once, the beneficiary is successfully registered by customers, activation of the same will take some time which called as cooling period.
Detailed explanation-3: -Your new beneficiary account will be activated within 24 hours. After that you can transfer money.
Detailed explanation-4: -The cooling period in the bank is defined as the time taken by banks during which a remitter cannot transfer funds to a newly added beneficiary. Here, a beneficiary is the person that receives the payment & remitter is the one that sends the payment. The cooling period in the bank can be between 30 mins to 4 hrs.