All of the following are true about electronic funds transfers except:
A) sometimes involve the Federal Reserve sending electronic images of checks to banks.
B) occur when banks or individuals deposit/withdraw from one bank account to another electronically.
C) include automated clearinghouse transactions (ACH).
D) include credit card payments made online.

Question

Quizplus · Accepted Answer

Electronic funds transfers do not always involve the Federal Reserve sending electronic images of checks to banks. This is only one type of electronic funds transfer, known as Check21.

All of the Following Are True About Electronic Funds Transfers