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) wire transfer
C) depository transfer check
D) preauthorized check

Question

Quizplus · Accepted Answer

A wire transfer is a method of electronic funds transfer where money is sent from one bank account to another instantly. It is often used for large transactions or for sending money internationally. The other options, direct send, depository transfer check, and preauthorized check, do not accurately describe this process.

A ________ Is a Telegraphic Communication That, Via Bookkeeping Entries