When Clarissa Nettles went to the grocery store, she wrote out a check to pay for her purchases. The clerk processed the check electronically and gave her voided check back. The store is using a(n) ____ to process Clarissa's payment.
A) automated clearinghouse
B) electronic check conversion
C) magic check reader
D) qualified payment system
E) direct deposit

Question

Quizplus · Accepted Answer

The use of a voided check returned to the customer indicates that the store used electronic check conversion to process Clarissa's payment. This means that the physical check was converted into an electronic payment, allowing the transaction to be processed more quickly than a traditional check payment. Option A, automated clearinghouse, is a method of transferring funds between bank accounts electronically, not a payment processing method for a check. Option C, magic check reader, and option D, qualified payment system, are not valid payment processing methods. Option E, direct deposit, is a method of electronically transferring funds into a bank account, not a payment processing method for a check.

When Clarissa Nettles Went to the Grocery Store, She Wrote