A written instruction by a current account holder to his bank to debit his account...
COMMERCE
WAEC 2012
A written instruction by a current account holder to his bank to debit his account at regular intervals with a specified amount for a given period is known as
- A. standing order
- B. money order
- C. bank draft
- D. overdraft
Correct Answer: A. standing order
Explanation
standing order; an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization.
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