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Electronic funds transfer

   Also found in: Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.06 sec.
Electronic funds transfer (EFT)
Transfer of funds electronically rather than by check or cash. The Federal Reserve's Fedwire and automated clearninghouse services are EFT systems.


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CheckFree's electronic funds transfer (EFT) service enables ElectricStreets to offer residents the option to pay their rent online by electronic check.
Electronic funds transfer can help agents reduce service demands and focus on sales.
Thus, Fein wrote Law of Electronic Banking, which covers everything from an analysis of the changing regulatory framework to evolving e-banking technologies -- including joint ventures and strategic alliances, electronic funds transfer and privacy, consumer protection and policy issues.
 
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