__________________ is a transfer that is authorized in advance to occur at substantially regular intervals. Payments that require the consumer to take specific actions to initiate them (such as by entering instructions on a touch-tone telephone or on the Internet) are not such type of EFTs.
A preauthorized EFT is a transaction that is authorized in advance to occur at substantially regular intervals. This type of electronic fund transfer does not include payments that require the consumer to take specific actions to initiate them (such as by entering instructions on a touch-tone telephone or on the Internet).
The correct answer is A. A preauthorized EFT. A preauthorized electronic fund transfer is one that the consumer authorizes in advance to recur at substantially regular intervals. This type of EFT does not include payments that require the consumer to take specific actions to initiate each transfer, such as entering instructions via a touch-tone telephone or online.