Question

you are checking your online account and see a transaction below:
summit savings bank account 454599321
date transaction description amount balance
07/01 beginning balance $600.00
07/07 ach - primeweb internet -$80.00 $520.00
what type of transaction is ach - primeweb internet?
choose 1 answer:
a credit
b atm withdrawal
c automatic payment
d direct deposit

Explanation:

• Option A (credit) is incorrect as a credit would increase the balance, but this transaction decreased it (-\$80.00).
• Option B (ATM withdrawal) is incorrect because the transaction is labeled as ACH - PrimeWeb Internet, not an ATM withdrawal.
• Option C (automatic payment) is correct. ACH (Automated Clearing House) transactions like this for a service (PrimeWeb Internet) are typically automatic payments that deduct from the account.
• Option D (direct deposit) is incorrect as direct deposits add money to the account, while this transaction subtracts.

Answer:

C. automatic payment