Explain the Difference Between Full-Service and Limited-Service Merchant Wholesalers

question 16

Essay

Explain the difference between full-service and limited-service merchant wholesalers. List and describe the types of wholesalers that belong in each category.

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Definitions:

Collect Funds

To collect funds means to gather or accumulate money from various sources, often in the context of payments or fundraising activities.

Debit Card

A payment card that deducts money directly from a consumer’s checking account to pay for a purchase.

Zero-balance Account

A checking account in which a balance of zero is maintained by automatically transferring funds from a master account in an exact amount to cover checks presented.