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meaning of "transfer funds"



 
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meaning of "transfer funds" #1 (permalink) Tue Jan 16, 2007 21:00 pm   meaning of "transfer funds"
 

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

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Order funds vs. transfer funds #2 (permalink) Fri Jan 19, 2007 4:33 am   Order funds vs. transfer funds
 

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
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transfer/order #3 (permalink) Fri Jan 19, 2007 10:17 am   transfer/order
 

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
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