What Is an Electronic Funds Transfer? Why Do Banks Like

question 85

Essay

What is an electronic funds transfer? Why do banks like it? What provisions are in the law to protect the customer who uses electronic funds transfer?

---

Definitions:

Raleigh

The capital city of North Carolina, named after the English explorer Sir Walter Raleigh.

Indians

Refers to the indigenous peoples of the Americas, often used in a historical context to describe the native populations encountered by European explorers and colonizers.

Europeans

People from the continent of Europe or of European descent.

Furs

Textiles made from the pelts of animals, historically significant in trade and fashion, but have become controversial due to ethical concerns regarding animal rights.