Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English


English definition of “electronic funds transfer”

electronic funds transfer

noun [C or U]     ( abbreviation EFT) BANKING, E-COMMERCE
a system of moving money from one bank or bank account to another electronically , using computer systems : Businesses and individuals may pay their taxes by electronic funds transfer .
(Definition of electronic funds transfer noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of electronic funds transfer

More Business English definitions for “electronic funds transfer”

Word of the Day


a good knowledge of something, or the fact that you know it so well

Word of the Day


Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More