Bank Giro is a method of settling debt from a

Assessment: JAMB UTME - Commerce - 2001 Subject: Commerce

Question 1 Report

Bank Giro is a method of settling debt from a
Answer Details
Bank Giro is a method of settling debt from a customer to a bank. It involves the use of a pre-printed slip that is filled by the debtor (customer) with details of the payment to be made, such as the account number, amount, and other relevant information. The slip is then deposited at the bank, which processes the payment and credits the amount to the creditor's account. This method is commonly used for settling bills, loan repayments, and other types of payments.

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