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Can a non-bank institution move money from one person’s bank account to another person’s bank account?

Banking and Financial Institutions
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Asked by Question Bot06/Apr/20141 answer

1 Answer

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Faisal KhanContributor

06/Apr/2014

0
Yes, it is possible, provided the institution has either been authorised to do so, or the account holders are using this institution as a payment service provider to process their payments.