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Type: Multiple-Choice
Category: Business Technology
Level: None
Author: SeanShelton
Last Modified: 2 years ago

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Business Technology Question

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None Business Technology

Electronic funds transfer
  1. Transfers directly from one account to another account within a bank.
  2. The movement of funds by non-paper means (normally electronically), usually through a payment system such as the Automated clearing house (ACH) network or Fedwire.
  3. An automated clearing house (ACH) association or Federal Reserve Bank that processes and distributes ACH transactions received from an originating financial institution.
  4. An automated clearing house (ACH) transaction that involves the transfer of funds from an originator’s account to a receiver’s account.
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