The movement of money from multiple bank accounts into one main bank account for a ﬁrm is called:

Question

Quizplus · Accepted Answer

The term used for the movement of money from multiple bank accounts into one main bank account for a firm is cash concentration. Thus, option C is the correct choice. Lock boxing (Option A) is a banking service that enables companies to receive payments by mail to a post office box address, which is then collected by their bank for deposit into their account. Electronic disbursing (Option B) is a method of transferring funds electronically to recipients' bank accounts. Availability enhancement (Option D) is not a known term in banking operations, and over-the-counter collection (Option E) is a method of in-person cash or check deposit for customers.

The Movement of Money from Multiple Bank Accounts into One