(redirected from Electronic Transfer Funds) Also found in: Encyclopedia.
Electronic Funds Transfer System
Any computerized system that facilitates a transaction in which money, securities, or some other good changes hands. Examples of electronic funds transfer include receiving cash out of an ATM and placing an order to buy a stock over the telephone.
He was a partner on a competitive engagement act for the President's National Commission on Electronic Transfer Funds System (NCEFT) and a member of the President's "Commission on Banking Productivity.