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WAEC Commerce 2010 Question 20

Question 20

Banking

What is the name of the service where a bank makes regular payment on behalf of its customers?

  1. A.Direct debit
  2. B.Credit transfer
  3. C.Standing order
  4. D.Bank draft
Show the answer and explanation

Answer: C (Standing order)

Explanation

A standing order instructs the bank to make regular payments for the customer.