In concentration banking, a firm directs customers to make payments to a local branch office of a bank.

Name: In concentration banking, a firm directs customers to make payments to a local branch office of a bank.
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This is correct. In concentration banking, a firm designates a local branch office of a bank to collect payments from its customers. The funds are then consolidated into a single account at the designated bank, which allows for more efficient cash management.

In Concentration Banking, a Firm Directs Customers to Make Payments