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electronic funds transfer (EFT)

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electronic funds transfer (EFT)
The transfer of funds, as from one account to another or from buyer to seller, by telephone or computer. The use of EFT results in the instantaneous movement of money. The additional time that the funds are available to earn income can more than offset the fees charged by institutions for this service. Also called wire transfer.
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In the United States, common forms of electronic funds transfer (EFT) are ACH (automatic cleating house) and wire transactions.
Direct deposit for reimbursements by Isenberg, Steven F. / Ear, Nose and Throat Journal
One important step: a consumer-oriented electronic funds transfer (EFT) service called CheckFree, which will soon make its debut as part of two leading home finance packages--MECA's Managing Your Money and Intuit's Quicken--and exists now as a stand-alone PC product.
"Send check." (CheckFree electronic funds transfer service) by Kight, Peter / Soft-Letter
nbsp;business unit processed record-setting electronic funds transfer (EFT) transaction volume for 2005, including best-ever monthly volume in December.
Fiserv EFT Announces Record Transaction Volume for 2005; Business ... by Business Wire
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