meaning of "transfer funds"

[Dolina]

English Language Tests, Intermediate level

ESL/EFL Test #232 "Bank Terminology (2)", question 5

Laurie has two accounts. She can ......... funds from her checking account into her savings account right over the phone.

(a) loan
(b) order
(c) transfer
(d) rent

English Language Tests, Intermediate level

ESL/EFL Test #232 "Bank Terminology (2)", answer 5

Laurie has two accounts. She can transfer funds from her checking account into her savings account right over the phone.

Correct answer: (c) transfer
_________________________

is it (transfer funds) true? Why not "order funds"?

Dolina

[Linda]

Hello,
In this case, 'transfer funds' is the correct phrase because the person is talking about two of her bank accounts. When you want to withdraw money from one of your accounts in order to put it into another one of your accounts, the term is 'transfer' funds.
The only time I can think of when you could possibly use 'order funds' is if you're at the bank and you want to order specific denominations for an upcoming withdrawal - or if you want to order foreign currency. I, personally, have never used that phrase (order funds) but maybe others have.
Maybe Alan can help us out on this one.

Linda
_________________
One Way of Learning English Grammar
Learn English with Linda Arlia

[Alan]

Hi,

As always with the tests you have to choose the appropriate word that will fit in the context. Here you have the preposition 'into' and you want a verb suggesting movement of money from one account to another and the only possible verb available to indicate this is 'transfer'. You can order in the sense of make a request for something but you would not order into. If you use 'order', I would think the more usual objects would (in a financial sense) be words like 'money' 'currency'.

A
_________________
English as a Second Language
You can read my ESL story Present Simple