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17 August, 15:56

Which of the following is not a type of bank? A. Credit Union B. Online Bank C. Payday Lender D. Retail Bank

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  1. 17 August, 16:14
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    The answer from given choice is "C", "Payday Lender" is not a type of bank.

    Payday lender involve the basic loan procedure where a lender is providing a short-term loan which has to be paid back when the borrower's next payday come, that is a simple loan process which has nothing to do with a bank.
  2. 17 August, 16:19
    0
    C) Payday Lender. A Payday Lender is not a type of bank. It does not hold money and invest it for its customers, it only lends money at very high interest rates, typically for a very short period of time.
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