Automatic funds transfer

(redirected from Automatic Transfer of Funds)

Automatic funds transfer

A transfer of funds from one account or investment vehicle to another using electronic or telecommunications technology.

Automatic Funds Transfer

A transaction in which a person moves money from one of her accounts to another over the Internet, telephone, or other electronic service. Automatic funds transfers are a convenient way to move money easily and conduct different transactions. There may or may not be a fee assessed to conduct an automatic funds transfer. See also: Direct deposit.
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The service enables DEWA's customers to reduce the time taken to pay their bills through the banks' electronic channels and allows the automatic transfer of funds to customers' accounts at DEWA and immediately updates their accounts.
His Excellency added The service enables DEWA s customers to reduce the time taken to pay their bills through the banks' electronic channels and allows the automatic transfer of funds to customers' accounts at DEWA and immediately updates their accounts.
They are line of credit and automatic transfer of funds from savings.
The company realized it needed to find a back-end solution that would be easy to implement and enable the automatic transfer of funds and fee assessments to and from its clientele on a monthly basis.
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