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    Question

    Which banking transaction involves the transfer of funds

    from one bank account to another electronically, often used for paying bills or making purchases?
    A Opening a fixed deposit account Correct Answer Incorrect Answer
    B Safe deposit box rental Correct Answer Incorrect Answer
    C Electronic funds transfer (EFT) Correct Answer Incorrect Answer
    D Loan origination Correct Answer Incorrect Answer

    Solution

    Electronic funds transfer (EFT) is the transaction that allows the transfer of funds electronically from one bank account to another, commonly used for various payments.

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