CBC the full form of banking is called Call Back Confirmation. In simple words, CBC is a security trick used by banks to ensure your money is secure. Particularly when you’re moving huge amounts of money or dealing with sensitive data, CBC steps in as your financial bodyguard. How can it be used? Let’s say that you’re doing something crucial, like transferring cash to another account or approving an enormous payment. The bank is going to send you a call. It’s an alert, a method to inquire, “Did you really make this decision?” Now, when you receive this call you’re not going to respond with a ‘yes’ or “no. You’ll have to verify certain information, such as your account number, a special transaction number, or PIN. This is a way for the bank to ensure that you are on the other side and not a sly fraudster.
What else do you need to Learn about CBC?
The CBC is a major benefit because it acts as an extra lock on your account at the bank. It prevents strangers from tapping into your money or messing on your account. It’s also an essential tool in the event that things go suspicious. If you discover an unrecorded transaction that you’re not doing. With CBC the bank’s got the transaction recorded, meaning they’re able to intervene to investigate the situation, and get the issue resolved. In essence, CBC isn’t simply a fancy term for banking it’s a vital component for keeping the hard earned funds secure and safe.
