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electronic funds transfer
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electronic funds transfer
noun
the use of telecommunications networks to transfer funds from one financial institution, as a bank, to another, or to withdraw funds from one's own account to deposit in a creditor's. Abbreviation: EFT
Origin:
1970–75
1970–75
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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Based on the Random House Dictionary, © Random House, Inc. 2012.
Cite This Source
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Electronic funds transfer
is always a great word to know.
So is slumgullion. Does it mean:
| a stew of meat, vegetables, potatoes, etc. |
| an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle. |
FOLDOC
Computing Dictionary
electronic funds transfer definition
application, communications(EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. In the late 1990s, this increasingly includes transfer initiated via the World-Wide Web. The term also applies to credit card and automated bill payments.
Glossary (http://fms.treas.gov/eft/glossary.html).
(1999-12-08)
Word Dynamo Rating For Electronic funds transfer
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