Which of the following statements about ACH transactions is FALSE?
A) They reduce the likelihood of missed payments.
B) They reduce transactions costs associated with check processing.
C) They reduce the costs that lenders incur in notifying customers of missed payments.
D) They typically involve digital cash.

Question

Quizplus · Accepted Answer

ACH transactions do not typically involve digital cash. While they allow for electronic transfer of funds, they involve the movement of funds from one bank account to another, rather than the creation of new digital currency.

Which of the Following Statements About ACH Transactions Is FALSE