Question

Under the Electronic Fund Transfer Act, which two banking practices are part of the consumer’s responsibility?

Answer 1

The correct choices are;

"A. knowing rights and responsibilities relating to money transfers  

C. notifying the bank of lost credit or debit cards".

The Electronic Funds Transfer Act is a government law that secures shoppers occupied with the exchange of assets through electronic techniques. This incorporates the utilization of charge cards, computerized teller machines and programmed withdrawals from a financial balance. The demonstration likewise gives a methods for rectifying exchange blunders and restricts the risk from any misfortunes because of a lost or stolen card.

Answer 2

I believe the answer is:

A. knowing rights and responsibilities relating to money transfers

C. notifying the bank of lost credit or debit cards

Disposing credit card report is advised in order to ensure that your card would stay unusable after you no longer need it, but it never become an obligation in any way. And testing the networks is the obligation of the credit card issuer, not the consumer.