Banking · Banker-Customer Relationship
What does the 'right of set-off' allow a bank to do?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Adjust a customer's debit balance with the balance in the same account.
- 2Use the customer's credit balance in one account to pay off the debit balance in another account.✓
- 3Transfer funds from the customer's account to another account without permission.
- 4Transfer the entire balance from one account to another at the customer's request.
Correct answer
Use the customer's credit balance in one account to pay off the debit balance in another account.
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