currency chest transaction
This query is : Resolved
bhola muraw
(Querist)
24 July 2010
What is Currency chest transaction in bank?
Rahul Gupta
(Expert)
24 July 2010
Currency Chest is the locker or like a cash deposit box of the bank.
All the currency or cash balance of the branches of the bank is sent to the currency chest. It keeps currency notes and meet the needs and requirements of the various branches of the bank.
Whenever a branch of a bank have excess cash balance, it transfers the currency to the currency chest. In the same way, in case bank branch needs currency, currency chest provides them the cash for making payments.
All the currency or cash balance of the branches of the bank is sent to the currency chest. It keeps currency notes and meet the needs and requirements of the various branches of the bank.
Whenever a branch of a bank have excess cash balance, it transfers the currency to the currency chest. In the same way, in case bank branch needs currency, currency chest provides them the cash for making payments.
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