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Wire Transfers and ACH Essentials Quiz

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Wire Transfers and ACH Essentials: a General level Bank Exam Prep quiz. Test your knowledge with 13 questions!

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Questions

Question 1

ACH payments are commonly used for which of the following?

A International trade

B Crypto trading

C Direct deposit payroll

D One-time large real estate purchases

Question 2

Are wire transfers usually reversible?

A Only with a bank manager's note

B No, they are generally final

C Yes, within 24 hours

D Yes, always

Question 3

Which payment method usually carries higher fees?

A Direct Deposit

B Wire Transfer

C ACH

D Internal transfer

Question 4

What information is required for a wire transfer?

A Bank routing and account number

B Credit card number

C Personal home address

D Social Security Number

Question 5

ACH transfers are processed in what?

A Individual packets

B Batches

C Physical cash envelopes

D Real-time only

📋 This quiz has 13 questions in total.