Advantages of wire transfers include all of the following EXCEPT:

Question

Quizplus · Accepted Answer

The statement "inexpensive relative to automated clearing house transactions" is incorrect. Wire transfers are generally more expensive than automated clearing house transactions. Therefore, option C is not an advantage of wire transfers.

The remaining options are advantages of wire transfers, making them all correct. Option A highlights the speed of wire transfers and how they are the best method for moving large sums of money swiftly. Option B notes that wire transfers result in an immediate final transfer of funds, which reduces the risk of fraud or reversal of the transaction. Option D highlights the convenience of wire transfers, as they can be completed in a matter of minutes, saving both time and effort.

Advantages of Wire Transfers Include All of the Following EXCEPT