The intent of an electronic funds transfer system is to

Question

Quizplus · Accepted Answer

The intent of an electronic funds transfer system is to increase convenience and service to the public and reduce the costs of making payments. It allows for transfers to be made between accounts instantly and without the need for physical checks or cash. This ultimately reduces the costs associated with printing and distributing checks, as well as the time and effort required to physically deposit them.

The Intent of an Electronic Funds Transfer System Is to