Asked by D_Vonte Price on Apr 25, 2024
Method of crediting and debiting accounts by computer without checks or deposit slips
A) deposit record
B) deposit slip
C) electronic funds transfer system
D) endorsement
E) endorser
F) third-party check
G) limited check
H) maker
I) MICR numbers
J) money order
Electronic Funds Transfer System
A digital system that allows the transfer of money between accounts without the physical exchange of cash.
Debiting Accounts
The financial process of recording or entering an amount owed as a debt in an account, increasing the balance of that account.
Without Checks
Operating or proceeding without restrictions or controls, potentially leading to errors or issues.
- Acquire knowledge on the operations of electronic banking and the current importance of digital banking.
Learning Objectives
- Acquire knowledge on the operations of electronic banking and the current importance of digital banking.
Related questions
Banking Machine Operated by Inserting a Debit,credit,or Bank Card and ...
A(n)_____ Check Is a Check Paid Directly from a Checking ...
The Process of Performing Banking Transactions with a Smartphone or ...
How Often Must a Bank Send a Statement Listing the ...
No Federal Law Governs Payments Made In ...