Results for: What_is_an_advantage_of_electronic_funds_transfer_(EFT)

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