A means for performing financial transactions through a computer terminal or telephone hookup is
A) a NOW transaction.
B) an electronic funds transfer system.
C) the Federal Reserve System.
D) the clearinghouse.
E) an open-market operation.

Question

Quizplus · Accepted Answer

An electronic funds transfer (EFT) system allows for financial transactions to be performed through a computer terminal or telephone hookup, transferring funds electronically from one account to another. The other options listed are not directly related to electronic financial transactions.

A Means for Performing Financial Transactions Through a Computer Terminal