11
QuizMultiple Choice

Unit Test — Unit test

Question 11 • OCPS -2102371-Personal Finance and Money Management

How are E-checks and electronic fund transfers (EFTs) similar in the way they process transactions?

Answer
A
Both can only be started during the bank's working hours.
B
Both charge the payer the same fee for each transaction.
C
Both need a physical card to start the transaction.
D
Both can move money directly from one bank account to another.

Explanation

E-checks and EFTs can both transfer money electronically from a payer’s bank account to another account. They do not both require a physical card, and neither is necessarily limited to bank working hours or charged the same fee in every case. The correct choice is “Both can move money directly from one bank account to another.”

AI-written and checked against the verified answer.

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