electronic funds transfer


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Related to electronic funds transfer: Electronic Data Interchange

electronic funds transfer

(application, communications)
(EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. In the late 1990s, this increasingly includes transfer initiated via the World-Wide Web. The term also applies to credit card and automated bill payments.

Glossary.
References in periodicals archive ?
Leading analysts and other industry observers believe that electronic funds transfer business produces better-than-average loss ratios.
On behalf of Tax Executives Institute, I am pleased to submit the following comments on the Federation of Tax Administrator's draft electronic funds transfer (EFT) recommendations, which were released by the FTA on January 29, 1990.
94-46 explained how a taxpayer making an electronic funds transfer can establish reasonable cause for abating a failure to deposit penalty under Sec.
TEI is very pleased to be present today to discuss the very important issue of electronic funds transfer (EFT) for the payment of state taxes.
An Authorization Agreement for Electronic Funds Transfer (FTB 3815) must then be filed.

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