Electronic funds transfer (EFT) is a disbursement system that transfers cash from one location to another using: Group of answer choices telephone telegraph computer all of these
Question
Electronic funds transfer (EFT) is a disbursement system that transfers cash from one location to another using: Group of answer choices
telephone
telegraph
computer
all of these
Solution
Electronic funds transfer (EFT) is a disbursement system that transfers cash from one location to another using:
Computer.
Explanation:
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Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands.
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This is done through a computer-based system. The transactions are performed via computer networks and digital stored value systems.
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While telephones and telegraphs can be used in some forms of electronic communication for financial transactions, the actual transfer of funds is done through computer systems. Therefore, the most accurate answer is "computer".
Similar Questions
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WHAT IS E COMMERCE?
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