Which type of deposit allows funds to be easily transferred to a third party?
A)transaction
B)time
C)savings
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Transaction deposits, such as checking accounts, are designed for day-to-day spending and allow easy transfers to third parties through methods such as electronic funds transfers or writing checks. Time deposits, such as CDs, have penalties for early withdrawal and are not as readily accessible for transfers. Savings accounts may have transaction limits and may not offer the same level of transfer options as checking or transaction accounts.

Which Type of Deposit Allows Funds to Be Easily Transferred