Internet banking
Virtual banking
E-banking
Instrument banking
Answer is Right!
Answer is Wrong!
The correct answer is: D. Instrument banking
Online banking is a service that allows customers to access their bank accounts and perform transactions over the internet. It is also known as internet banking, virtual banking, or e-banking.
Instrument banking is a type of banking that focuses on providing financial instruments to its customers. This can include things like loans, mortgages, and investment products.
Here is a brief explanation of each option:
- A. Internet banking: This is the most common term used to describe online banking. It refers to the ability to access your bank account and perform transactions over the internet.
- B. Virtual banking: This term is sometimes used interchangeably with internet banking, but it can also refer to a more specialized type of online banking that offers additional features, such as video chat with a teller or the ability to deposit checks using your smartphone.
- C. E-banking: This term is an abbreviation for electronic banking. It can refer to any type of banking that is conducted electronically, including online banking, mobile banking, and ATM banking.
- D. Instrument banking: This is a type of banking that focuses on providing financial instruments to its customers. This can include things like loans, mortgages, and investment products.