Banks like electronic funds transfers because they eliminate the float time that a drawer enjoys on a checking account and the paperwork involved in processing checks.

Name: Banks like electronic funds transfers because they eliminate the float time that a drawer enjoys on a checking account and the paperwork involved in processing checks.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Electronic funds transfers (EFTs) process transactions instantly, reducing the float time and minimizing paperwork compared to traditional check processing.

Banks Like Electronic Funds Transfers Because They Eliminate the Float