A system that relies on electronic communications, not paper documents, to transfer cash is known as:
A)electronic remittance.
B)electronic funds transfer.
C)electronic mail.
D)electronic imaging.

Question

Quizplus · Accepted Answer

Electronic Funds Transfer (EFT) is the system that allows the transfer of money from one bank account to another electronically without the need for paper documents.

A System That Relies on Electronic Communications, Not Paper Documents