A _________is a telegraphic communication that, via bookkeeping entries, removes funds from the payer's bank and deposits them in an account of the payee's bank.
A) direct send
B) preauthorized check
C) depository transfer check
D) wire transfer

Question

Quizplus · Accepted Answer

The description matches that of a wire transfer, which is a quick electronic transfer of funds from one bank to another. Option A ("direct send") is not a commonly used term in banking, option B ("preauthorized check") refers to a different payment method, and option C ("depository transfer check") is a type of check used to transfer funds between accounts at the same bank.

A _________Is a Telegraphic Communication That, Via Bookkeeping Entries, Removes