EFT

in Glossary

EFT is acronym for Electronic Funds Transfer which refers to the use of telecommunications networks to transfer funds from one financial institution, such as a bank, to another, or to withdraw funds from one’s own account to deposit in a creditor’s account.


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Related ChexSystems Banking Information:

  1. Electronic Funds Transfers: How They Work
  2. Check Hold
  3. Electronic Check Presentment
  4. Late Payment
  5. ATM

Tagged as: EFT, electronic funds transfer

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