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JAMB Economics 2007 Question 28

Question 28

Financial Institutions

An advantage of electronic banking is that it

  1. A.enables a customer to operate many accounts from different locations
  2. B.enables many customers to operate joint accounts
  3. C.enables a customer to operate his account from different locations
  4. D.reduces the risk of bank fraud
Show the answer and explanation

Answer: C (enables a customer to operate his account from different locations)

Explanation

With electronic banking (ATMs, online and mobile banking) a customer can use his account from anywhere.