Enterprise glossary and term center
Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.
- Enterprise terms
- Electronic Fund Transfer
- What is mean by electronic fund transfer?
Electronic Fund Transfer - What is mean by electronic fund transfer?
Electronic Funds Transfer, or EFT, is a means to transfer money electronically from one banking institution to another. This is accomplished without having paper money or checks exchanging hands. One of the most commonly known application of EFT is direct deposit.