Banks Prefer That Customers Use an Electronic Funds Transfer System

question 244

Multiple Choice

Banks prefer that customers use an electronic funds transfer system rather than traditional methods of payment because

• A) traditional payments are subject to regulation by the Fed and electronic transactions are not.
• B) electronic funds are subject to a smaller reserve requirement than traditional funds.
• C) electronic funds transfer is more efficient and less expensive for banks than traditional check-based payments.
• D) the bank generates advertising revenue from its website.

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Definitions:

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A technique in pie charts where a particular segment is visually distinguished from the others to highlight its importance.