Electronic Fund Transfer ( EFT ) enables secure, paperless money transfers between bank accounts, offering speed, convenience, and 24/7 availability. EFT stands for electronic funds transfer, a broad term for any transaction that moves funds electronically between accounts or individuals. Learn about different types of EFTs, such as ACH, wire, debit cards and peer-to-peer payments, and how they work for businesses. EFT Full Form – Electronic Fund Transfer or EFT is, as the name suggests, an electronic mode of transfer of money. In this, money is transferred from one account to another electronically or digitally. EFT full form is Electronic Fund Transfer: It is a current banking method facilitating seamless digital transactions between financial institution accounts. It removes the want for bodily tests and paper-based transactions, offering comfort and performance to both individuals and organizations. EFT transactions can be performed thru diverse channels which include online banking, cellular apps, and automated teller machines (ATMs), providing short and secure fund transfers. With its ...
