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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
EFT thickness showed a statistically significant positive correlation with BMI, waist circumference, SBP, DBP, HOMA-IR, hsCRP, 17-OHP, testosterone, LVMI, mitral DcT and CA-IMT (see Table 5).
The beneficiary's AFIs will reverse the EFT immediately in case beneficiary notifies the bank about the incorrect credit in his or her account and put in place effective systems to identify suspicious EFT transactions.
These modifications to the original EFT were based on thorough pilot testing with different groups of people including adults, senior/junior high-school students, and primary-school students.
Another interesting finding is that newt efts contained higher concentrations of TTX (per plug) relative to the aquatic adults.
Before a provider may be paid via electronic payment, the health plan, clearinghouse, or payment-related vendor must: (a) notify providers regarding their fees associated with this payment method; (b) advise providers to check with any of their contracted vendors (i.e., their credit card merchant processer) regarding any additional administrative fees; and (c) notify providers about the availability of an ACH EFT payment option.
EFT was measured perpendicularly on the free wall of the right ventricle at end systole, over three cardiac cycles.
Statutory language from state to state typically addresses "bad check" situations, but it rarely specifies or defines EFT or ACH protocol and can be wildly inconsistent.
"We have reviewed numerous GTL/XTL technologies and found that EFT's proprietary catalysts and process technology are very competitive over a broad range of applications," said George Gruber, Vice President of Technology at Black & Veatch.
For a building as prestigious as EFT, one can safely assume the provision of its FM services to be a challenging prospect.
The council says: "It was agreed at EFT that the Christmas celebration and promotion activity was an important area of work.
HHS is adopting operating rules developed by the Council for Affordable Quality Healthcare (CAQH), Washington, for health care EFT transactions and for "remittance advice" transactions.