Cryptocurrency Q&A
What does Rev mean in banking?
What does Rev mean in banking?
KpopStarletShine
Mon Nov 25 2024
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5 answers
1184
I've encountered the term 'Rev' in some banking documents, but I'm not sure what it stands for. Could someone explain to me what 'Rev' means in the context of banking?
5 answers
Eleonora
Wed Nov 27 2024
On the other hand, STO is an abbreviation for standing order. It is a type of payment instruction that allows a customer to authorize their bank to make regular payments to another account.
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BusanBeauty
Wed Nov 27 2024
A standing order can be set up for a fixed amount or a variable amount, and it can be scheduled to occur on a specific day of the month or on a weekly or bi-weekly basis.
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CryptoMercenary
Wed Nov 27 2024
REV stands for reversal, which indicates that a standing order or Direct Debit has been recalled. This action can be taken by the customer or the bank for various reasons, such as insufficient funds or a change in payment details.
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Maria
Wed Nov 27 2024
BTCC, a top cryptocurrency exchange, offers a range of services to its customers. These services include spot trading, futures trading, and a wallet service. Spot trading allows customers to buy and sell cryptocurrencies at the current market price.
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EnchantedSeeker
Wed Nov 27 2024
When a REV occurs, it means that the previously authorized payment has been cancelled and will not be processed. The funds that were supposed to be transferred will remain in the account of the payer.
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