electronic funds transfer

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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 ?
Of these, 160,000 are deposit-enabled (including envelope deposits), and about 80,000 are automated deposit (advance function).
Alongside this launch, Mashreq very recently announced the opening of an electronic banking service unit at Emirates Headquarters, offering a wide range of products and digital services, most importantly introducing Mashreq s automated deposit and state of the art deposit machines.
The automated deposit and recycling capabilities of the ATMs raise the bar for other network providers and financial institutions in Brazil.
Officers questioned Chatha who blamed a banking error, insisting he had paid one amount in using an automated deposit machine and the other PS6,000 over the counter.
The trials will range from services such as a cash machine, automated deposit machine and a leaflet rack in some stores, to a full service with a member of The Co-operative Bank available to help customers.
Lloyds TSB is designing fully automated deposit taking machines, which will allow people to deposit cash and cheques and have the transactions cleared without the need for cashiers.
Among many excellent nominations this year, Fifth Third Bank was selected for its work in providing an integrated receivables solution that not only addresses the need to maximize working capital, but it also addresses operational needs to provide more secure and automated deposit processes.
Located in the bank s branch in Oldenburg, Germany, the ATM provides automated deposit and withdrawal for bank customers, with entirely new appearance and better user experience.
Retail Banking Research (RBR) recently reported that the number of terminals with automated deposit functionality worldwide increased 30 percent from 2007 to 2009.
SDM simplifies the automated deposit (or "no-envelope deposit") process, helping consumers complete the deposit portion of a transaction in half the time of other ATMs.
NASDAQ: EEFT), a leading payments provider in Europe, announces the deployment of the first Independent and Shared Automated Deposit Terminal (ADT) Networks in Europe.
Diebold outsources products and services beyond the self-service channel including teller automation, automated deposit technology and data, software, and on-premises security management.

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