A collection system that is characterized by many collection points with each having a depository account at a local bank is called

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Quizplus · Accepted Answer

A field banking system involves collecting funds from numerous collection points, typically in rural or remote areas, where each collection point has a depository account with a local bank. This system is often used in areas where there is limited access to banking services and infrastructure. The other choices listed (B, C, D) refer to different types of electronic payment systems, which are not necessarily characterized by multiple collection points with depository accounts at local banks.

A Collection System That Is Characterized by Many Collection Points