Podcast
Questions and Answers
Which of the following statements about RCCs is true?
Which of the following statements about RCCs is true?
- RCCs are authorized by the account holder over the phone. (correct)
- RCCs are processed only through the check clearing networks.
- RCCs are created by telemarketers only.
- RCCs always bear the signature of the account holder.
What is the main difference between electronic check conversion and an RCC?
What is the main difference between electronic check conversion and an RCC?
- Electronic check conversion is authorized through the check clearing networks.
- RCCs can only be created by credit card companies.
- Electronic check conversion requires the account holder's signature.
- RCCs bear the account holder's printed or typed name. (correct)
Which of the following can create an RCC?
Which of the following can create an RCC?
- Banks
- Retail stores
- Government agencies
- All of the above (correct)
How are RCCs processed?
How are RCCs processed?
What information is required to authorize an RCC over the phone?
What information is required to authorize an RCC over the phone?
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