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Effect of Adult Education on Adults’ Knowledge of Electronic Funds Transfer Procedures

Abstract

Electronic funds transfer procedures involve the processes through which money is electronically moved from one account or financial platform to another using approved banking and payment channels. Adult Education can provide adults with the knowledge required to understand and appropriately follow these procedures. This study will examine the effect of Adult Education on adults’ knowledge of electronic funds transfer procedures, focusing on transfer initiation, recipient information, transaction verification, authentication, confirmation, and basic security practices. The study is motivated by the increasing use of electronic funds transfers and the need to strengthen adults’ knowledge for safe and informed financial transactions. Adult Education provides opportunities for adults to acquire practical knowledge through demonstrations, guided practice, discussions, simulations, and technology-supported learning activities. In relation to electronic funds transfers, educational activities can introduce adults to the steps involved in initiating and completing transfers through appropriate electronic channels. Adults can learn how to provide accurate recipient information, review transaction details, authenticate transfers, and confirm successful transactions. Practical learning can make transfer procedures easier to understand and help adults develop greater confidence in using electronic financial services. Adults’ knowledge of electronic funds transfer procedures refers to their understanding of the steps, requirements, and precautions involved in electronically transferring funds. Adequate knowledge can help adults identify appropriate transfer channels, enter relevant transaction information correctly, verify recipient details, and understand transaction confirmation information. Adult Education can strengthen this knowledge through practical demonstrations and simulated transfer exercises that allow adults to practise the procedures in a controlled learning environment. Improved knowledge may therefore support more informed and responsible participation in electronic financial transactions. The study will adopt a suitable descriptive survey research design. The population will comprise adults participating in selected Adult Education programmes, from which an appropriate sample will be selected using a suitable sampling procedure. Data will be collected through a structured questionnaire and an appropriate knowledge assessment designed to measure participants’ knowledge of electronic funds transfer procedures. The research instruments will be subjected to appropriate validation procedures, while their reliability will be established before administration. Data collected will be analysed using relevant descriptive and inferential statistical techniques to determine the effect of Adult Education on adults’ knowledge of electronic funds transfer procedures. The study is expected to establish that participation in Adult Education programmes has a positive effect on adults’ knowledge of electronic funds transfer procedures. Adults exposed to relevant educational activities are expected to demonstrate improved understanding of transfer initiation, recipient information, transaction verification, authentication, confirmation, and basic security practices. The study may further establish that demonstrations, guided practice, and simulated transfer activities are effective approaches for helping adults understand electronic funds transfer procedures and apply them more confidently. The study is expected to have implications for Adult Education practitioners, financial literacy educators, community educators, financial service providers, and organisations involved in digital financial inclusion. Adult Education programmes may incorporate practical electronic funds transfer demonstrations, simulated transaction exercises, and simplified instructional materials to strengthen adults’ knowledge. Emphasis on verifying recipient information, reviewing transaction details, and protecting authentication information can make the learning activities more relevant to adults’ everyday financial experiences. The study will be significant to adults, households, Adult Education practitioners, financial educators, financial service providers, and other stakeholders interested in promoting effective digital financial participation. It is expected to recommend the integration of practical electronic funds transfer education into relevant Adult Education and financial literacy programmes, with emphasis on hands-on learning and responsible transaction practices. The study will conclude that appropriate Adult Education can improve adults’ knowledge of electronic funds transfer procedures and contribute to more informed, confident, and responsible use of electronic financial services.

Keywords: Adult Education, electronic funds transfer, fund transfer procedures, electronic transactions, digital financial services, financial literacy, transfer initiation, recipient information, transaction verification, payment authentication, transaction confirmation, transfer security, banking knowledge, adult learning, digital finance