Exam CRCM topic 1 question 189 discussion

Bottom of page 621 of the online guide: Payment to a receiving bank occurs at the earlier of the time the amount is credited to the receiving bank’s account at the Reserve Bank or when the payment order is sent to the receiving ban

B page, 621

The correct answer is A. Payment to a beneficiary is made at the earlier of the time when the payment order is credited to the beneficiary's account or when notice of the credit is sent to the beneficiary. This ensures that the beneficiary is considered paid either upon the actual crediting of the funds to their account or when they are notified of such credit, whichever occurs first, providing a clear point in time at which the payment is deemed to have been made.