electronic funds transfer Meaning in the Cambridge English Dictionary Cambridge dictionaries logo
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Meaning of “electronic funds transfer” in the English Dictionary

"electronic funds transfer" in Business English

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electronic funds transfernoun [C or U]

uk   us   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 from the Cambridge Business English Dictionary © Cambridge University Press)
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