Carlos pays his cable bill using his bank's internet banking web site to withdraw funds from his checking account.This transaction is a(n):

Question

Quizplus · Accepted Answer

By using internet banking to withdraw funds from his checking account to pay his cable bill, Carlos is making an automated clearinghouse (ACH) transaction. ACH transactions use electronic funds transfer to move money between bank accounts. The other options (digitized-check transaction, e-money transaction, and fedwire transaction) do not accurately describe this type of transaction.

Carlos Pays His Cable Bill Using His Bank's Internet Banking