Updated for 2026 Syllabus Detailed Explanations High-Yield Core Concepts

Bank Promotion Exam Guide

Banking Awareness | Banking Knowledge | for all Bank Exams

Module: General Practice

Q10: The term "Payable-through accounts" specifically refers to which of the following?

A
Accounts used solely for the payment of utility bills and taxes
B
Correspondent accounts that third parties use directly to transact business on their own behalf
C
Accounts where funds are transferred instantly without any holding period
D
Savings accounts that allow unlimited withdrawals through ATMs
✅ Correct Answer: B
The term "payable-through accounts" refers to correspondent accounts that third parties use directly to transact business on their own behalf.
Understanding these accounts is critical for the IIBF AML KYC Exam 2026.