Of the following, which is generally settled on a deferred net basis in Australia's payments system?
A)Cash, EFTPOS instructions and cheques.
B)EFTPOS instructions, cheques and direct entries.
C)Cheques, financial markets transactions and direct entries.
D)Financial markets transactions.
E)More than one of these is true.

Question

Quizplus · Accepted Answer

EFTPOS instructions, cheques and direct entries are settled on a deferred net basis in Australia's payments system, where the transfers are processed in bulk at the end of the business day, and the final settlement takes place on the next business day. Other options like cash and financial market transactions are settled immediately.

Of the Following, Which Is Generally Settled on a Deferred