An account for which a bank acts as an uninterested third party is termed as _______ A. Savings Account B. Current Account C. Reserve Account D. Escrow Account

An account for which a bank acts as an uninterested third party is termed as _______ A. Savings Account B. Current Account C. Reserve Account D. Escrow Account
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D. Escrow Account Explanation: 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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Local currency account maintained by a local bank for a foreign (correspondent) bank is termed as _________ A. Nostro Account B. Vostro Account C. LORO Account D. Mirror Account E. None of the Above

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