Question 31
BankingBank giro is a system where
- A.commercial banks can give loans to all customers
- B.a central bank opens accounts for commercial banks
- C.a customer uses a cheque to pay several bills
- D.a customer closes his account by writing a cheque.
Show the answer and explanation
Answer: C (a customer uses a cheque to pay several bills)
Explanation
Under bank giro (credit transfer), one cheque and a list let the bank pay many creditors at once.