Is the bank required to stop payment on the internet order for the expensive watch?

A) Yes, a customer may stop a preauthorized payment.
B) Yes, so long as Ariel notifies the bank at least three days before the payment is scheduled.
C) Yes, as long as she does not receive the watch.
D) No, while a customer may stop a preauthorized payment, a customer cannot order a stop payment on an EFT because such transfers occur instantaneously.
E) No, a customer may not stop a preauthorized payment.

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Melissa Goble · Accepted Answer

Final Answer : D, Explanation :  Stopping a preauthorized payment is different from stopping a payment on an electronic funds transfer (EFT) for a purchase already made. EFTs are designed to be immediate and are processed quickly, often instantaneously, making it not feasible to stop the payment once the order is placed and the transfer is initiated.

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