electronic funds transfer

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

Origin of electronic funds transfer

¹

First recorded in 1970–75

Words Nearby electronic funds transfer

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

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