There isn't one. you have to use a key.
It's in the trunk. Just remove the carpet and then you see the coverplate.
Inside the reservoir.
Through the trunk under the carpet nearest back seat.
It is located under the drivers side rear door.
The fuses for a 1988 are inside driver side on the left hand side down below (where the hood release is)
under the dash, driver side
Above your left Knee when you are driving
The VR is on the back of the alternator.
long answer: yes
Yes the 240 does have fuses. Was that your ?.
how do adjust timing belt on a volvo 240 DL ?
Unscrew the plastic panel inside the trunk and the bulb housing unlocks when you turn it 1/3rd turn counterclockwise