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Q242: A "Serial Payment" in the context of wire transfers is defined as:

A
A wire transfer that combines a payment message with a separate routing of funding instructions.
B
A direct sequential chain of payment, where the wire transfer and accompanying payment message travel together from the ordering financial institution to the beneficiary financial institution.
C
A batch transfer of multiple individual wire transfers sent to the same financial institution.
D
A payment transaction conducted electronically without the need for any manual intervention.
✅ Correct Answer: B
'Serial Payment' refers to a direct sequential chain of payment where the wire transfer and accompanying payment message travel together from the ordering financial institution to the beneficiary financial institution directly or through one or more intermediary financial institutions.
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