Electronic Funds Transfer
define: Electronic Funds Transfer
EFT. An EFT can be of many types: paying for a purchase with a debit card at a store, using an ATM to withdraw cash, paying a bill online with a substitute check, or authorizing an automatic payment for a utility bill. EFTs are commonly used as a synonym for an automatic withdrawal, and are a safe way to conduct financial transactions.
 |
 |
|
Comment on this entry
|
More Banking Terms |
|
|
Other Glossaries |
|
|
|
|
|
|
