Bank Deposits, Collections, and Funds Transfers
• Identify and explain the various stages of and parties
to the collection of a check.
• Identify and explain the duties of collecting banks.
• Explain the relationship between a payor bank and its
customers.
• Define a consumer electronic funds transfer, identify the
various types of electronic funds transfers, and outline the
major provisions of the Electronic Funds Transfer Act.
• Explain wholesale fund transfers and discuss how
they operate.
