Which of the following is an obligation of the remittance provider when a transfer is executed?

A remittance provider has the obligation to provide a receipt when a transfer is executed as part of the regulatory requirements set forth for remittance transfers. This receipt serves as a confirmation of the transaction and includes important details such as the amount transferred, the exchange rate (if applicable), and any fees charged. It is crucial for keeping the sender informed about the transfer and can be used for record-keeping purposes. Providing a receipt is not only a standard practice but also enhances transparency and trust between the provider and the sender, ensuring that the sender has all the necessary information regarding their transaction.

While notifying the sender of fees incurred is important, it is typically required at the time of the transaction initiation rather than solely post-transfer. The 24-hour completion guarantee may not universally apply to all transactions depending on various factors such as the nature of the transfer and the recipient's location. Lastly, refunding fees in the event of a transfer failure is not a standard obligation for remittance providers; they may have specific policies regarding this, but it is not universally mandated. Thus, the obligation to provide a receipt stands as a clear and necessary requirement following the execution of a remittance transfer.