16-88 Which of the following is NOT a wholesale banking service?
A)Controlled disbursement accounts.
B)Account reconciliation.
C)Electronic funds transfer.
D)Electronic initiation of letters of credit.
E)Automated teller machines.

Question

Quizplus · Accepted Answer

Automated teller machines (ATMs) are not typically considered a wholesale banking service. ATMs are common in retail banking, which serves individual consumers rather than businesses or institutional clients. The other options listed are all services commonly provided by wholesale banks. Controlled disbursement accounts help businesses manage their cash flow by providing information about expected incoming payments and outgoing payments. Account reconciliation ensures that a business's records match up with the bank's records. Electronic funds transfer allows for quick and secure movement of money between accounts. Electronic initiation of letters of credit can facilitate international trade by providing assurance of payment to the seller.

16-88 Which of the Following Is NOT a Wholesale Banking