electronic funds transfer
noun
: transfer of money from one bank to another using their computer systems
We did an electronic funds transfer.
Examples of electronic funds transfer in a Sentence
Recent Examples on the Web
In most cases, the credit union said, a wire transfer is not considered to be an electronic funds transfer and is governed by a different body of law.
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Susan Tompor, USA TODAY, 31 Oct. 2024
Ultimately, he’s informed that there’s no way to have an electronic funds transfer, or EFT, sent straight to his bank account without paying a fee.
—Cezary Podkul, ProPublica, 14 Aug. 2023
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Susan Tompor, USA TODAY, 31 Oct. 2024
Ultimately, he’s informed that there’s no way to have an electronic funds transfer, or EFT, sent straight to his bank account without paying a fee.
—Cezary Podkul, ProPublica, 14 Aug. 2023
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“Electronic funds transfer.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/electronic%20funds%20transfer. Accessed 21 Dec. 2024.
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