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electronic funds transfer

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noun

the use of telecommunications networks to transfer funds from one financial institution, as a bank, to another, or to withdraw funds from one's own account to deposit in a creditor's. Abbreviations: EFT, EFTS

QUIZZES

QUIZ YOURSELF ON “THEIR,” “THERE,” AND “THEY’RE”

Are you aware how often people swap around “their,” “there,” and “they’re”? Prove you have more than a fair grasp over these commonly confused words.
Question 1 of 7
Which one of these commonly confused words can act as an adverb or a pronoun?

Origin of electronic funds transfer

First recorded in 1970–75
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

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