Understanding Wire Transfers and ACH Quiz

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Understanding Wire Transfers and ACH: a General level Bank Exam Prep quiz. Test your knowledge with 12 questions!
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Questions

Question 1
Which is typically faster for international payments?
A Money Order
B ACH
C Wire Transfer
D Check
Question 2
ACH payments are primarily used for:
A Buying physical gold
B Large international investments
C Recurring payments like payroll
D Cash withdrawals
Question 3
Which transfer method usually incurs a higher fee?
A ACH
B Direct Deposit
C Internal transfer
D Wire Transfer
Question 4
What information is required to send an ACH transfer?
A Social Security Number
B Routing and Account Number
C Credit score
D Mother's maiden name
Question 5
What is a common use for an ACH credit?
A Paying a utility bill
B Purchasing stocks
C Receiving a paycheck
D ATM withdrawal

📋 This quiz has 12 questions in total.

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