In a check collection process that involves multiple banks, which bank is the first to receive a check? the collecting bank o the depositary bank the Federal Reserve Bank the payor bank Which of the following are examples of an electronic fund transfer (EFT)? online banking only a transfer of funds through an automated teller machine (ATM), a computer, a smart phone, or online banking a transfer of funds that involves only the Internet a transfer of funds through an ATM, a computer, a smart phone, or a paper check