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Reason Financial Institutions Add “only” After Every Amount Of Money - Business - Nairaland

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Reason Financial Institutions Add “only” After Every Amount Of Money by Amaechi5(m): 9:38am On Apr 29, 2018
Many financial institutions especially banks use the word Only at the end of the amount you paid into the bank which is written on a receipt or a teller.

It is compulsory that a bank or other financial Institution should include the word “ONLY” after the amount that a customer paid to them. You must have seen cases like this for example on your teller or receipt you will see Two Hundred Thousand Naira Only or even One Million Naira Only. Please when you see this don’t feel like that the bank or the Financial institution is trying to belittle the payment you made cause it is the duty of the person or a banker receiving the money to add the word Only at the end of the amount in words.
Reason Why Banks and Other Financial Institutions Add Only on Money Payment
You may be thinking why banks will add only to every amount of payment paid in the bank and the main reason is to avoid fraud.

Yes that is it. Some of the ways to stop fraud or fraudulent activities in the bank especially when customers are paying in or withdrawing money from their account. The word Only means conclusion and this will also prevent a fraudulent person from adding extra words or amount to it. If Only is added to the amount, it will shows conclusion and therefore no other words or amount will be added again.
Re: Reason Financial Institutions Add “only” After Every Amount Of Money by mumureloaded(m): 11:04am On Apr 29, 2018
is that all you're truing to say? you could have done with a single line. you don't need to stress us before making your f*ckery point. anyways, thanks op

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