Payment Glossary

EFT (Electronic Funds Transfer)

The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

Related Terms

  • ATX (Financial EDI Acknowledgement)

    An ATX entry is an acknowledgement by the receiving depository financial institution (RDFI) confirming the receipt of a corporate trade exchange (CTX) credit entry.

    Learn More
  • Risk Management

    Risk management is the act of carefully examining business processes to prevent the possible loss of revenue and other assets. Learn More

    Learn More