Some companies have customers send payments directly to an address maintained by a bank. This is called a(n) ________ system.
A) direct deposit
B) funds transfer
C) lockbox
D) interbank transfer

Question

Quizplus · Accepted Answer

The system where customers send payments directly to an address maintained by a bank is called a lockbox system. Direct deposit involves the deposit of money directly into a recipient's bank account, funds transfer is a general term for moving money from one account to another, and interbank transfer refers specifically to transfers between different banks.

Some Companies Have Customers Send Payments Directly to an Address