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Meaning of ELECTRONIC FUNDS TRANSFER

 
Matching Terms:  electronic funds transfer system

Computing Dictionary
 
 Definition: 

(EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. In the late 1990s, this increasingly includes transfer initiated via the world-wide web. The term also applies to credit card and automated bill payments.

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