11
QuizMultiple Choice

Banking Basics

Question 11 • FA Personal Finance

How are online banking and E-checks similar?

Answer
B
Both need customers to go to a physical place to finish a transaction.
B
Both use the same banking systems as regular checks.
B
Both move money electronically without using cash or checks.
B
Both are not secure so transactions are recorded on a physical ledger.

Explanation

Online banking and e-checks both let people send or manage money electronically rather than handing over cash or using a paper check. A physical visit is not required to complete the transaction, so choice A is incorrect. The correct choice is C: both move money electronically without using cash or paper checks.

AI-written and checked against the verified answer.

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