BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An account for which a bank acts as an uninterested third party is termed as?
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Savings Account
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Current Account
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Reserve Account
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Escrow Account
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Explanation:
Detailed explanation-1: -An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties. Definition: An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties.
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