Electronic Funds Transfer

Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff. EFT's are known by a number of names. In the United States, they may be referred to as electronic checks or e-checks.

The term covers a number of different payment systems, for example:

See also

References


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.


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