Multiple choice

EFT stands for:

  1. Electronic Fact Transmission;

  2. Electronic Funds Transfer

  3. Electronic Fascimile Transmission;

  4. Easy Fascimile Transfer
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

EFT stands for Electronic Funds Transfer. It is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions.

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