Let’s take a look at your bank account. For this assignment, please locate and read the agreements and policies associated with one of your own bank
accounts. If you can’t find this information on the bank’s website, you can call your bank and have them provide it to you. If you don’t want to use the
agreements and policies from your own bank, select any bank that you are familiar with and locate and use their policies.
Once you’ve located your bank’s policies, write a 750-word essay addressing the questions located in Part A, Part B, and Part C, below.
Part A: Read through the agreements and policies regarding checks and electronic fund transfers. Select two policies that interest you in your account
agreement. For each policy of interest, please do the following:
1. Reprint the policy, so the reader can see the policy that your assignment is referencing.
2. How does the policy you selected illustrate the concepts in this Unit? Be specific here, and include references to the text and materials in your discussion
of the Unit concepts.
3. Given what you’ve learned in this Unit, would you want to know about this policy before opening an account with the bank? Why or why not?
Part B: As you review the agreements and policies, how many methods are available to you if you want to make an electronic funds transfer? Were you aware
of all of the available methods? Do you find one method to be more secure than the others? Which of these methods would you use and why? Fully explain
your answers to these questions, including your reasoning.
Part C: Imagine that you are the owner of a small business. Knowing what you do about the various ways to accomplish an electronic funds transfer from the
Unit, and from the agreements and policies that you read, which of these methods would you be willing to use to receive payment. Which of these methods
might you want to use to pay employees? Do you have any security concerns in using an EFT? Fully explain your answers to these questions, including your
reasoning.
Write your answers to the above questions in a comprehensive essay, double-spaced in Word file, and upload to Blackboard. Your answer to each Part should
be around 250 words (not counting the questions or reprinted policies) and your submission should be 750 words total. Be sure to cite to the provisions of
the UCC Article 3 and UCC Article 4/4A that you are applying to answer these questions, quoting from the language of the UCC where appropriate.
Information on locating sources of the UCC on the internet can be found in Appendix B to your textbook. Cite any other sources that you use, including legal
sources in APA style