Examlex
Which of the following statements is incorrect?
Processing
The act of handling or manipulating data, transactions, or physical items in a prescribed manner.
Financial Electronic Data Interchange
A system that allows the transfer of financial information between organizations in a standardized electronic format.
Direct Deposit
An electronic payment method where funds are transferred directly into the recipient's bank account, bypassing the need for physical checks.
Automatic Withdrawal
A banking process where funds are automatically taken from a bank account to fulfill a financial commitment.
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