EFT. Any transfer of funds that is initiated by electronic means, such as an...
A process that enables employees to have their payroll checks automatically deposited to their accounts or have regular monthly payments deducted automatically.
The electronic exchange of information between financial institutions, which results in debits and credits.
The transfer of payments directly into a provider's financial institution account rather than mailing out paper checks.
Electronic systems that transmit standardized financial data, payments and other transactions between connected parties and do not use paper documents to increment or decrement accounts.
Also known as a wire, or telegraphic transfer (t/t), this is the process of moving money from bank to bank electronically.
are taxation payments can be made electronically by Direct Credit, BPAY®, or Direct Debit.
Electronic movement of data between banks which results in a value transfer between accounts. EFT is an electronic commerce technologies that allows the transfer of funds from the bank account of one person or organization to that of another. EFT is also used to refer to the action of using this technology.
See EFT.
This is a process that allows CFC to electronically transfer child support payments to a custodial parent's checking or savings account.
A method of payment used in place of a paper check. To Top
Refers to payments cleared through Fedwire or ACH.
The transfer of funds between accounts and firms electronically.
The transfer or movement of funds by electronic means.
A method of collecting policy premium electronically from the policy holder's bank account.
is used by some schools and Stafford Loan lenders to wire funds for Stafford loans directly to participating schools without requiring an intermediate check for the student to endorse. The money is transferred electronically instead of using paper, and hence is available to the student sooner. Students are advised to use EFT.
A premium payment method under which policy owners authorize their banks to pay premiums automatically on due dates by transferring funds by wire from the bank to the insurer.
Movement of funds from one bank account to another using communications networks to activate banking transactions.
KPERS retirement benefits are directly deposited into a member's account at a financial institution by electronic transmission according to a routing code and account number, instead of a paper check.
Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. Since the 1990s, this has also included transfer initiated via the World-Wide Web. The term also applies to credit card and automated bill payments. You'll find a lot of people who say that their favorite EFT process is the one that deposits their salaries in their bank accounts.
An electronically based rather than paper-based system of transferring funds to and from accounts. Two main EFT remittance methods are wire transfers and automated clearing house (ACH).
Electronic Funds Transfer (EFT). Can be a generic term for an electronic payment or Direct credit. The expression is also associated specifically with the payment system or service used for 'same day' payments in the UK, ie, CHAPS, the Clearing House Automated Payment System.
Electronic distribution of loan funds from the lender to the college.
A system that optimizes the transfer of electronic payments, including remittance information, over secure private networks between banks. Direct deposit of employee paychecks into their bank accounts is one use of EFT.
Any transfer of funds between accounts using an electronic terminal, telephone, computer, or magnetic tape and that does not use checks or other paper.
A generic term describing any transfer of funds between parties or depository institutions via electronic data systems. Automated Clearing House (ACH) is an example of EFT.
Another important component of the payments system, especially in the developed countries, is the electronic funds transfer. It involves the use of computers to transfer large sums of money. The efficient operation of this mode of payment depends critically on the reliability of telecommunications and electricity supply.
This is a wire transfer of money, usually from the Lessor to the equipment vendor for the amount specified in the lease agreement.
A paperless transfer of funds initiated from a bankcard terminal, computer, telephone instrument, or magnetic tape.
a transfer of funds, other than by check or paper instrument, which is performed through use of a telephone, Bethpage ATM or ATM, computer, magnetic tape or other electronic means
An automatic method of transferring funds electronically from one bank account to another without producing a check. See also: Automatic Payment Plan.
A paperless computerized system enabling funds to be debited, credited, or transferred, eliminating the need fore personal handling of checks.
the development of banking and payment systems that transfer funds electronically instead of using cash or paper documents such as checks
A system that enables the transfer of electronic payments, excluding remittance information, among trading partners and financial institutions. Direct deposit of employee paychecks into their bank accounts is one example of the use of EFT. I-Commerce
Illinois Public Act 91-0677, effective January 5, 2000, requires every employer with at least 250 employees to use EFT. Employers with fewer than 250 employees but with at least 10 Income Withholding Notices must also use EFT to pay all amounts withheld except for: support orders providing only spousal maintenance with no child support obligations; support orders entered in another state; non IV-D support payments not being made through income withholding.
Transferring funds between accounts and firms electronically.
Systems used to transfer funds electronically, i.e., computers, magnetic tapes, automated teller machines, and telephones instead of issuing paper checks.
Moving money between entities electronically (in the case of student loans, disbursing funds electronically to the borrower's college or university).
A wire transfer whereby the Lessor remits payment to the equipment vendor. At the moment of funding, this amount is wired to the vendor less any payments agreed upon in the Assignment of Proceeds.
The electronic transfer of loan proceeds from the lender to a restricted account at the school or the school's financial institution.
Any movement of funds by nonpaper means. EFTs provide various levels of security and the funds are generally available for investment sooner.
(EFT - also referred to as "ACH") This is a means by which the Lessor will pay the vendor's invoice by wire transfer rather than by check. In other words, at the time of funding the Lessor will wire the invoice amount, less any amount assigned under an Assignment of Proceeds Agreement, directly to the vendor's bank account.
A monthly benefit payment electronically transferred to the bank account of the recipient. It is also known as CRAFTS, Central Regional Automatic Funds Transfer System, Inc.
Any transfer of funds that is initiated through electronic means, like a wire transfer from a bank to a school.
A paperless transfer of funds initiated by transmission from a terminal, computer or telephone.
Used by ULV and lenders to wire funds for Stafford and PLUS loans directly to participating schools without requiring an intermediate check for the student to endorse.
Means of transferring money from UNC to individual bank accounts. Also see Direct Deposit and ACH.
premium payment or annuity deposit method under which the certificate owner authorizes their bank to pay premiums or annuity deposits automatically by transferring funds by wire from the bank to the insurer.
A transfer of funds initiated electronically rather than by use of a paper check.
The transfer of money via an electronic terminal including an automatic teller machine or telephone. It also applies to credit card and recurring payments.
Process by which money is transmitted electronically from one bank account to another.
Any funds transfer that is sent electronically, either by telecommunication or written on magnetic media such as tape, cassette, or disk
Financial transactions are carried out electronically without the use of cash. Funds may be debited from one account and credited to another account when we make a purchase with a debit card. Payments can be made very quickly over the internet or some other network.
means a system of technology that allows Bingo Sponsors' Associations to disburse pooled lottery proceeds securely by electronic means from their lottery trust accounts to each of their member organizations' lottery trust accounts rather than writing cheques.
A process used by many schools and lenders to electronically wire funds for Stafford and PLUS disbursements directly to the school, eliminating the need for a paper check that would need to be signed by both the school and the student.
A process by which student loan proceeds are electronically disbursed directly from the lender to the school, and the school then applies the funds against the student's account at the school. This eliminates the need for individual checks for student loan disbursements.
The means by which a donor's bank transfers a donation (usually monthly) from the donor's bank account to the bank account of a non-profit organization that the donor designates.
An electronically based rather than paper-based system of transferring money. One of the most widely used EFT methods is to transfer funds using the Automated Clearing House network (ACH), a computer network that connects all US financial institutions. CircleLending uses ACH to debit and credit loan repayments.
The process of transferring funds from one account to another electronically rather than by check or cash.
Or EFT. It can refer to any digital transfer of money between accounts, whether by ATM machine or online bill paying.
(EFT) The transfer of funds between accounts electronically, bypassing paper-based methods. The two main categories are wire transfer systems such as FedWire that link banks in the federal reserve system with CHIPS and consumer electronic payment systems.
transfer of money from one bank account to another or to a CSE Agency
your funds are electronically deposited directly to an account at UAF, which expedites disbursing funds to you.
See "Automated Clearing House ( ACH) Transfer"
Movement of funds between two accounts, sometimes used to make payments.
Any transfer of funds that are implemented by electronic means. Examples of electronic funds transfer means include: electronic terminal, telephone, computer, ATM or magnetic tape.
