Electronic Bank Payment
No, EBP (Electronic Business Payment) and BACs (Bankers' Automated Clearing Services) do not mean the same thing. EBP refers to a broader category of electronic payment methods used in business transactions, whereas BACs specifically refers to a UK payment system for electronic bank-to-bank transfers of funds. While both involve electronic transactions, they serve different purposes and contexts.
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it means that it show the difference between the cash book and bank statement
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No, EBP (Electronic Business Payment) and BACs (Bankers' Automated Clearing Services) do not mean the same thing. EBP refers to a broader category of electronic payment methods used in business transactions, whereas BACs specifically refers to a UK payment system for electronic bank-to-bank transfers of funds. While both involve electronic transactions, they serve different purposes and contexts.
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TFT on a Barclays bank statement stands for Telephone Funds Transfer
TFT on a Barclays bank statement stands for Telephone Funds Transfer