Question

network allows user to exchange money from one bank account to another via electronic fund transfer true or false​

Answer 1

Answer:

true

Explanation:

Answer 2

Answer:

true

Explanation:

EFT (Electronic Funds Transfer) The electronic exchange or transfer of cash from one account to another, either within one financial institution or across multiple institutions, through computer-based systems.

Electronic funds transfer work:-

EFT payments are processed through the Automated financial institution (ACH) network. Because the financial institutions are connected, you'll authorize the electronic transfer of funds, and therefore the money will be taken from your account and deposited in the recipient's account.

#spj3