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

The transaction described in the scenario is an example of an Automated Clearinghouse (ACH) transaction. ACH is a system used for electronic funds transfers (EFTs) between banks and financial institutions. In this case, Carlos is initiating an ACH debit from his checking account to pay his cable bill.

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