electronic funds transfer

(redirected from automated deposit)
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
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References in periodicals archive ?
The Study Explore the Product Types of ATM Market Market: , Cash Dispenser, Automated Deposit Terminal & Recycle Type
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
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.
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 AT
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.
Retail Banking Research (RBR) recently reported that the number of terminals with automated deposit functionality worldwide increased 30 percent from 2007 to 2009.

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