Electronic banking involves ________.
A) consumers being able to complete transactions any day, any hour at both bank and nonbank locations
B) weekly bank statements that reflect the past week's transactions
C) the use of a national debit transfer system
D) the use of a national credit reporting system

Question

Quizplus · Accepted Answer

Electronic banking allows consumers to complete transactions at any time, any day, and at both bank and nonbank locations through electronic devices such as computers and smartphones. It eliminates the need for physical visits to banks and allows for greater convenience for consumers. Electronic banking also includes features such as online bill payment, mobile banking, and remote deposit capture. The use of a national debit transfer system and credit reporting system may be a part of electronic banking, but they do not fully encompass its definition.

Electronic Banking Involves ________