Examples of electronic funds transfer in the following topics:
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- Electronic banking includes such services as ATMs, direct deposits, electronic fund transfers, and online banking.
- Electronic funds transfer (EFT) is a service that allows a bank to transfer large amounts of money to another bank by sending an electronic message.
- Electronic transfers take only an instant.
- Online banking allows you to check your balance, pay your bills, view statements, transfer funds, view transaction history, and much more.
- ABMs are combinations of ATMs, web sites, and dedicated customer service telephone lines that allow customers to make deposits, transfer funds between accounts, or engage in even more sophisticated banking transactions without stepping foot in the bank.
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- Prevent the business from having "idle funds"—more cash than is necessary to function.
- These funds can instead by invested for higher return.
- Electronic Funds Transfer (EFT): By using services that transfer funds automatically, such as through PayPal, a business can minimize the number of people who have access to its funds.
- These types of transfers also tend to generate documentation showing when the transaction was made and with whom.
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- For example, mutual funds are one financial innovation.
- A mutual fund pools money from many people together into a fund, and a fund manager invests the fund in a variety of stocks.
- Overall, the average of the fund's 30 stocks could earn a return for the fund investors.
- The MMMF is identical to a mutual fund.
- For example, a customer uses a debit card to pay for goods and services by electronically transferring funds from his checking account to a store's bank account.
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- Consequently, the banks electronically transfer these funds through the Fedwire.
- Demand function constitutes the banks' demand for federal funds.
- Figure 4 shows the Federal Funds Market.
- For example, a bank could borrow funds from the Fed at 2% and lend these funds out at 5%, earning 3% interest on the Fed loans.
- Other factors can cause the Federal Funds rate to rise or fall.
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- Checks evolved into the last payment system – electronic funds.
- Next, the store has machines that read the chip or magnetic strip and allow the store to transfers funds electronically from the customer's checking account to the store's bank account.
- Debit cards expanded electronic funds leading to the automated teller machine (ATM) and the internet.
- Finally, people can buy products and services, transfer bank funds, or pay utility bills by sitting behind a computer screen.
- They only need a computer connection to the internet to transfer money or pay bills.
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- The transfer of electrons between molecules via oxidation and reduction allows the cell to transfer and use energy for cellular functions.
- The transfer of electrons between molecules via oxidation and reduction is important because most of the energy stored in atoms is in the form of high-energy electrons; it is this energy that is used to fuel cellular functions.
- The transfer of energy in the form of electrons allows the cell to transfer and use energy in an incremental fashion: in small packages rather than as a single, destructive burst.
- These compounds can be easily reduced (that is, they accept electrons) or oxidized (they lose electrons).
- It is noteworthy that NAD+must accept two electrons at once; it cannot serve as a one-electron carrier .
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- An ionic bond results from the transfer of an electron from a metal atom to a non-metal atom.
- The bond is formed when an atom, typically a metal, loses an electron or electrons, and becomes a positive ion, or cation.
- Both types result in the stable electronic states associated with the noble gases.
- However, in covalent bonds, the electrons are shared between the two atoms.
- An electron is transferred from Na to F.
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- This movement of electrons from one element to another is referred to as electron transfer.
- As illustrated, sodium (Na) only has one electron in its outer electron shell.
- When sodium loses an electron, it will have 11 protons, 11 neutrons, and only 10 electrons.
- Therefore, it tends to gain an electron to create an ion with 17 protons, 17 neutrons, and 18 electrons.
- In the formation of an ionic compound, metals lose electrons and nonmetals gain electrons to achieve an octet.
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- The electron affinity (Eea) of a neutral atom or molecule is defined as the amount of energy released when an electron is added to it to form a negative ion, as demonstrated by the following equation:
- Mulliken used a list of electron affinities to develop an electronegativity scale for atoms by finding the average of the electron affinity and ionization potential.
- A molecule or atom that has a more positive electron affinity value is often called an electron acceptor; one with a less positive electron affinity is called an electron donor.
- Together they may undergo charge-transfer reactions.
- Electron affinity follows the trend of electronegativity: fluorine (F) has a higher electron affinity than oxygen (O), and so on.
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- In the loanable funds market, market clearing is defined as the interest rate/loanable funds quantity where savings equal investment (the amount of capital needed for property, plant, and equipment based investments) .
- For instance, buying bonds will transfer savers' money to the institution issuing the bond, which can be a firm or government.
- Loanable funds are often used to invest in new capital goods.
- The interest rate can also describe the rate of return from supplying or lending loanable funds.
- When the supply and demand for loanable funds are equal, savings is equal to investment and the loanable funds market is in equilibrium at the prevailing interest rate.