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electronic funds transfer

   Also found in: Financial, Acronyms, Wikipedia, Hutchinson 0.03 sec.

See EFT.

(application, communications)electronic funds transfer - (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.

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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.
ElectricStreets offers 'check-free' rent service for owners by Real Estate Weekly
Electronic funds transfer can help agents reduce service demands and focus on sales.
Agents Sold on Electronic Billing by Flanagan, Deborah / Best's Review
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.
E-banking by Financial Executive
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