Multiple choice

Electronic funds transfer is the exchange of money _______.

  1. from one place to another

  2. from one account to another

  3. from one bank to another

  4. all of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Electronic Funds Transfer (EFT) specifically refers to moving money between accounts, which can be within the same bank or across different banks. While 'place to place' and 'bank to bank' are partially correct, 'account to account' is the most precise and technically accurate definition.

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