electronic transfer of funds
1electronic transfer of funds — ETF The transfer of money from one bank account to another by means of computers and communications links. Banks routinely transfer funds between accounts using computers; ETF is also used in home banking services. In the USA, the Electronic… …
2electronic transfer of funds — ETF The transfer of money from one bank account to another by means of computers and communications links. Banks routinely transfer funds between accounts using computers; ETF is also used in home banking services. In the USA, the Electronic… …
3Interbank Network for Electronic Transfer - INET — Worldwide network that facilitates the transfer of debit and credit card transactions between financial institutions. INET covers any transaction made by a card bearing the Mastercard logo, debit or credit. INET deals with the actual transfer of… …
4Electronic funds transfer — or EFT refers to the computer based systems used to perform financial transactions electronically.The term is used for a number of different concepts: * Cardholder initiated transactions, where a cardholder makes use of a payment card * Direct… …
5electronic 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 ( EFT) Transfer of funds… …
6Electronic Funds Transfer Act — A federal law that protects consumers engaged in the transfer of funds through electronic methods. This includes the use of debit cards, automated teller machines and automatic withdrawals from a bank account. The act also provides a means of… …
7electronic funds transfer — Form of electronic commerce that operates through debit cards that enable the automatic transfer of funds from a user s bank account …
8wire transfer — Electronic transfer of funds; usually involves large dollar payments. Bloomberg Financial Dictionary * * * wire transfer wire transfer ➔ transfer2 * * * wire transfer UK US noun [U] BANKING, E COMMERCE ► TELEGRAPHIC TRANSFER(Cf. ↑telegraphic… …
9electronic funds transfer at point of sale — EFTPOS The automatic debiting of a purchase price from the customer s bank or credit card account by a computer link between the checkout till and the bank or credit card company. The system depends on a customer s plastic card, which is ‘swiped’ …
10electronic funds transfer — noun a computerised banking system for the transfer of funds from one account to another. Compare EFTPOS. Also, EFT …
