Electronic funds transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. The term covers a number of different concepts; ...
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http://en.wikipedia.org/wiki/Electronic_funds_transfer
(from the article `money`) Four very different types of transfer can be distinguished. First, depositors can use electronic funds transfers (EFTs) to withdraw currency from ...
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http://www.britannica.com/eb/a-z/e/20
A payment system initiated by electronic means such as telephone, computer or... <a target=_blank href='http://www.finance-glossary.com/terms/electronic-funds-transfer.htm?id=12814&ginPtrCode=00000&PopupMode=false' title='Read full definition of electronic funds transfer'>more</a>
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(EFT) The transfer of money electronically from an account in one financial institution to an account in another financial institution.
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Method of transferring funds automatically from one account to another by electronic means, such as electronic funds transfer at point of sale (EFTPOS), which provides for the automatic transfer of money from buyer to seller at the time of sale. For example, a customer inserts a plastic card into a point-of-sale computer terminal in a super...
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https://www.encyclo.co.uk/local/21221
(EFT) EFT allows account holders to transfer funds from an account electronically. This method of transfer is not only highly secure, but also extremely efficient and easy to transact.
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https://www.encyclo.co.uk/local/21405
the use of telecommunications networks to transfer funds from one financial institution, as a bank, to another, or to withdraw funds from one's own account to deposit in a creditor's. Abbr.: EFT
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https://www.infoplease.com/dictionary/electronic-funds-transfer
Electronic funds transfer or EFT is common with businesses and with individuals. Electronic funds transfer is the electronic communication used to transfer cash from one bank account to another. EFTs don?t require paper or checks to transfer cash between accounts. Banks can simply make a journal entry and the cash is taken from one account and plac...
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https://www.myaccountingcourse.com/accounting-dictionary/accounting-diction
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