A customer with XYZ Plc sent money through his account to his sister's account in another branch. This is an example of?

Assessment: JAMB UTME - Commerce - 2009 Subject: Commerce

Question 1 Report

A customer with XYZ Plc sent money through his account to his sister's account in another branch.

This is an example of?

Answer Details
This is an example of e-banking. E-banking refers to the use of electronic channels to conduct banking transactions such as transferring funds, checking account balances, paying bills, and accessing other banking services. In this case, the customer used an electronic channel (likely online banking or a mobile app) to transfer money from his account to his sister's account in another branch, without physically visiting the bank or filling out any paperwork.
Read lesson note on Money (JAMB)
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