| gen. |
electronic money transfer (Alexander Demidov); electronic transfer (Any transfer of funds from one account to another that occurs electronically. An electronic transfer can take various forms, including a transfer made between an individual's various accounts (move from savings to checking), from one individual's account to a corporation's account for an automatic reoccurring bill payment, or via a credit or debit card swiped at a retail location to pay for a purchase. BD Alexander Demidov); electronic funds transfer (Electronic funds transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. The term covers a number of different concepts: Wire transfer via an international banking network Cardholder-initiated transactions, using a payment card such as a credit or debit card Direct deposit payment initiated by the payer Direct debit payments, sometimes called electronic checks, for which a business debits the consumer's bank accounts for payment for goods or services Electronic bill payment in online banking, which may be delivered by EFT or paper check Transactions involving stored value of electronic money, possibly in a private currency Electronic Benefit Transfer. WT Alexander Demidov) |
