Understanding Wires and ACH Transfers Quiz

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Understanding Wires and ACH Transfers: a General level Bank Exam Prep quiz. Test your knowledge with 15 questions!
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Questions

Question 1
What does ACH stand for?
A Annual Cash Handling
B Account Credit Holder
C Automatic Currency Hub
D Automated Clearing House
Question 2
Which transfer type is typically faster?
A Savings deposit
B Wire transfer
C Mailed check
D ACH transfer
Question 3
What is usually required to send a wire transfer?
A A business license
B A social media login
C A routing number
D A physical photo
Question 4
Are ACH transfers generally free or low-cost?
A No
B Only on weekends
C Yes
D Only for businesses
Question 5
What is a common use for an ACH transfer?
A Paying for groceries
B Buying a house with cash
C Direct deposit of payroll
D Trading stocks

📋 This quiz has 15 questions in total.

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