Results for: What_is_TRUE_statement_about_electronic_funds_transfer_(EFT)_and_split_disbursement

What does EFT stand for?

EFT stands for Electronic Funds Transfer. It is a facility using which customers can transfer funds from one bank account to another without having to write/issue/receive/deposit Cheques. Everything happens electronically through internet banking without use of paper instruments. In India… Full Answer

What is a EFT Code of Conduct?

The Electronic Fund Transfer Act was passed by the U.S. Congress in 1978 and signed by President Jimmy Carter, to establish the rights and liabilities of consumers as well as the responsibilities of all participants in electronic funds transfer activities

How does EFT OPS work?

Assuming you mean EFTPOS (Electronic Funds Transfer Point Of Sale)... The customer uses either a credit or debit card to pay for goods. The card is 'read' by the cashier's register, and an electronic 'request' is sent to the customer's… Full Answer

What is Electronic Fund Transfer?

Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. The term is used for a number of different concepts: * Cardholder-initiated transactions, where a cardholder makes use of a payment card * Direct… Full Answer

How long does an eft take?

An EFT ( electronic funds transaction ) will be processed at the end of each working day. If money's are deposited after 5:00 pm the funds won't be cleared until the following working day. If you need money fast don't… Full Answer

What is electronic funds transfer?

Electronic funds transfer is a system through which a customer can transfer money to another customers account without having to physically visit the bank. For ex: if I have to give you Rs. 1000 for some reason, I can either… Full Answer

What is NEFT code?

NEFT stands for National Electronic Funds Transfer. It is an electronic funds transfer service that is available for the citizens of India to transfer funds electronically from one bank to another. All banks have a unique NEFT code using which… Full Answer

What services does Banrural have to offer?

Banrural is a money transfer service. Some of the services they offer include: Arch Electronic Funds Transfer, Bank Electronic Funds Transfer, and sending money all across the world from the comfort of your own home.