Final answer:
Money can be transferred instantaneously from Chime to another bank account using the Instant Transfer Option. Other non-instant options include Wire Transfers and ACH Transfers, while Mobile Check Deposit is not a transfer method. Confirm with your bank about any fees and transfer times. option (B)
Step-by-step explanation:
To transfer money from Chime to another bank account instantly, one would need to use the Instant Transfer Option. This is a feature that some banking platforms offer that allows for immediate transfer of funds to an external bank account. Options like Wire Transfer and ACH Transfer are also available but may not be instant, as wire transfers can take hours and ACH transfers can take several business days. Mobile Check Deposit is a method of depositing checks using a smartphone app, but it is not a method of transferring funds between bank accounts.
Instant transfers typically incur a fee but are useful for urgent transactions. It is important to check with your banking institution to understand the fees and transfer times associated with these different methods. As referenced, M1 now includes savings deposits in banks, which can't be directly accessed via checks but are readily accessible through an automatic teller machine or a bank.