EFT

EFT
electronic funds transfer (EFT)
An electronically based rather than paper-based system of transferring funds to and from accounts. Two main EFT remittance methods are wire transfers and automated clearing house ( ACH). American Banker Glossary
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Transfer of funds electronically rather than by check or cash. The Federal Reserve's Fedwire and automated clearinghouse services are EFT systems. Bloomberg Financial Dictionary

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EFT EFT noun [countable, uncountable]
BANKING COMPUTING Electronic Funds Transfer the process of moving money from one bank or credit card account to another done using a computer or a machine such as an ATM, or money moved in this way

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EFT UK US noun [C or U]
► BANKING ABBREVIATION for electronic funds transfer: a system of moving money electronically from one bank or account to another: »

With the advent of EFT, the relative detriments of cash can be targeted, if not eliminated.


Financial and business terms. 2012.

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Look at other dictionaries:

  • Eft — Eft, adv. [AS. eft, [ae]ft, again, back, afterward. See {Aft}, {After}.] Again; afterwards; soon; quickly. [Obs.] [1913 Webster] I wold never eft comen into the snare. Spenser …   The Collaborative International Dictionary of English

  • eft — eft·soons; EFT; eft; eft·soon; …   English syllables

  • eft — *eft, *efta germ., Adverb: nhd. wieder?; ne. again?; Rekontruktionsbasis: anfrk., as.; Etymologie: unbekannt; Weiterleben: anfrk. eft 9, echt …   Germanisches Wörterbuch

  • EFT — or eft may refer to:* Effective field theory, an approximate theory to describe physical phenomena * Electronic Funds Transfer, a computer based financial transaction * Emotional Freedom Techniques, an alternative psychotherapeutic tool *… …   Wikipedia

  • EFT — ist ein Ortsteil der Gemeinde Perl (Mosel) im Saarland. Die Abkürzung EFT steht für Effektive Feldtheorie, praktikable Methode, physikalische Phänomene wissenschaftlich zu untersuchen Emotional Freedom Techniques, auch „EFT Technik der… …   Deutsch Wikipedia

  • eft — eft1 [eft] n. [ME euete < OE efeta, older, dial., literary form of NEWT] NEWT eft2 [eft] adv. [ME < OE, orig. compar. (Gmc * aftis) of AFT1] Obs. 1. again 2 …   English World dictionary

  • Eft — Eft, n. [AS. efete lizard. See {Newt}.] (Zo[ o]l.) (a) A European lizard of the genus {Seps}. (b) A salamander, esp. the European smooth newt ({Triton punctatus}). [1913 Webster] …   The Collaborative International Dictionary of English

  • EFT — Electronic funds transfer Short Dictionary of (mostly American) Legal Terms and Abbreviations …   Law dictionary

  • EFT — EFT,   Abk. für Euro File Transfer …   Universal-Lexikon

  • EFT — [ˌi: ef ˈti:] n [U and C] technical the abbreviation of electronic funds transfer …   Dictionary of contemporary English

  • eft — O.E. efte, efeta small lizard like animal, of unknown origin (see NEWT (Cf. newt)) …   Etymology dictionary

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