JAMB - Commerce (2018 - No. 62)
Bank giro is a system where?
commercial banks can give loan to all customers.
a central bank opens accounts for commercial banks
a customer uses a cheque to pay several bills.
a customer closes his account by writing a cheque
Explanation
Bank giro credits (BGCs) are used by customers to pay cash or cheques into a bank account. They are commonly found in the form of tear-off strips at the bottom of utility, telephone and other regular bills.
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