electronic funds transfer

(redirected from Electronic fund transfer)
Also found in: Financial, Encyclopedia.

e·lec·tron·ic funds trans·fer

(EFT) (ĕ-lek-tron'ik fŭndz trans'fĕr)
The automatic deposit of funds from one account to another account; often used in third-party reimbursement to health care providers.
Synonym(s): automated deposit.
Medical Dictionary for the Health Professions and Nursing © Farlex 2012
Mentioned in ?
References in periodicals archive ?
On the occasion, Shaikh Khalifa bin Ebrahim Al Khalifa stated that Bahrain Clear had opted to adopt the Electronic Fund Transfer System in order to streamline all payments and facilitate the payment process for all investors, brokers, and issuers, going in line with Bahrain Clear's strategy to adopt the latest technology in order to reduce the time and effort required for payment and settlement.
KARACHI -- State Bank of Pakistan issued Electronic Fund Transfers (EFT) Regulations on Wednesday to set forth the minimum information of originator and beneficiary to be required in a payment system message being used to initiate EFT.
The Electronic Fund Transfer System (EFTS) is a national project appointed to Benefit by the Central Bank of Bahrain, which will connect all retail banks and community billers in Bahrain and enhance the efficiency of fund transfers and bill presentments and payments.
All ACH files generated by ezAch comply with standards of the National Automated Clearing House Association and are compatible with all banks conforming NACHA standards for electronic fund transfers.
The regulation provides that an ATM operator that charges a fee for initiating an electronic fund transfer or balance inquiry must post notices at ATMs that a fee will be imposed.
California has an electronic fund transfer system for corporations.
The Electronic Fund Transfer Act requires that financial institutions inform consumers of electronic transaction information-sharing practices.
International value-added network services already exist for data interchange and electronic fund transfer. A language IVANS - essentially a permanent version of the International Channel's temporary translation work - will exploit the growing power of global telecommunications to link the human skills of translators and interpreters with powerful computers, databases and desktop publishing systems in ways we are only now beginning to imagine.
Real-time electronic fund transfer gains more ground among banks !-- -- Lawrence Agcaoili (The Philippine Star) - February 12, 2019 - 12:00am Instapay, Pesonet
Editorial will cover such topics as: commercial law, computer crime, copyright, e-governance, electronic fund transfer, privacy, insurance, IP rights, international law, national security, national information infrastructure, patents, technology policy, and telecommunications law and policy.
The BSP and NRPS stakeholders launched the Philippine EFT system and operations network (PESONet) in November last year to facilitate batch electronic fund transfer from one account to one or several accounts maintained in different financial institutions, while InstaPay that allows 24/7 low value electronic fund transfers below P50,000 was launched last April.

Full browser ?