Which of the following statements is not true regarding Electronic Funds Transfer Systems (EFTS) ?
A) EFTS eliminates "float."
B) Congress and the Federal Reserve Board have enacted legislation to protect EFTS users.
C) A customer has unlimited liability for the unauthorized use of a lost or stolen EFTS debit card.
D) A bank is liable for a wrongful dishonor if it fails to make an EFTS payment when funds are available.
E) One major advantage to EFTS is that they are "online" so the transactions take effect immediately.
Correct Answer:
Verified
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