Question

Which of the following is a service provided by banks for safekeeping valuables?

• A. Demand Draft
• B. Mail Transfer
• C. Locker Facility
• D. Telegraphic Transfer

Answer 1

Answer:

C. Locker Facility

• A bank locker facility is a secure service provided by banks that allows customers to store their valuable items like:

1. Important documents

2. Jewelry

3. Other precious items

• The other options shown are:

• Demand Draft

• Mail Transfer

• Telegraphic Transfer

• These are money transfer services offered by banks, not safekeeping services.

• Bank lockers provide a safe and secure storage option as they:

• Are kept in specially designed strong rooms

• Have dual control access (bank's key + customer's key)

• Are monitored 24/7 through security systems

• Can only be accessed during banking hours

• Provide insurance coverage in many cases