An example of electronic funds transfer is:
A) a transfer of funds without the use of paper checks.
B) a transfer of funds by writing a check.
C) the same as a deposit in transit.
D) the return of a deposited check.

Question

Quizplus · Accepted Answer

Electronic funds transfer (EFT) refers to the transfer of funds from one account to another electronically, without the use of paper checks, making option A correct.

An Example of Electronic Funds Transfer Is