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

  • Basis Points

    Basis Points is a financial term that describes one one-hundreth of a percent (1 basis point = .0001 or .01%). Normally, the addition of basis points for...

    Learn More

  • FTC (Federal Trade Commission)

    The Federal Trade Commission is an independent agency that advocates for consumer protection and the prevention anti-competitive business practices.

    Learn More