Asked by Divya Patel on May 20, 2024
Verified
A[n] ________ is when money is transferred by an electronic terminal, telephone, or computer.
A) Automatic fund transfer
B) Electronic fund transfer
C) Computer generated transfer
D) Wire transfer
E) Consumer electronic transfer
Electronic Fund Transfer
The electronic transfer of money between accounts, facilitated by a network of computers, allowing for quick and secure transactions without the need for physical exchange of cash or checks.
Wire Transfer
An electronic method of transferring funds directly from one person or entity's bank account to another's across financial institutions.
- Distinguish among diverse electronic fund transfer systems and their respective regulatory frameworks.
- Comprehend the principles behind electronic fund transfers and the technological frameworks that facilitate these exchanges.
Verified Answer
CS
Curtis SaitiMay 20, 2024
Final Answer :
B
Explanation :
Electronic fund transfer is the correct term for when money is moved via electronic terminals, telephones, or computers.
Learning Objectives
- Distinguish among diverse electronic fund transfer systems and their respective regulatory frameworks.
- Comprehend the principles behind electronic fund transfers and the technological frameworks that facilitate these exchanges.
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