Difference between revisions of "Electronic Funds Transfer"

From Open Risk Manual
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== Definition ==
 
== Definition ==
'''Electronic Funds Transfer'''. (EFT) It refers to any transfer of funds initiated digitally, including card payments, automatic teller machine (ATM) withdrawals, point-of-sale (POS), and debit transfers without requiring the intervention of a financial institution staff. These transactions can take place within the same organization, or across accounts spread between one or more financial institutions in the financial network.
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'''Electronic Funds Transfer'''. (EFT) It refers to any transfer of funds initiated digitally, including card payments, automatic teller machine (ATM) withdrawals, point-of-sale (POS), and debit transfers without requiring the intervention of a financial institution staff.  
  
[[Category:Supply Chain Finance]]
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These transactions can take place within the same organization, or across accounts spread between one or more financial institutions in the financial network.
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[[Category:Fintech]]

Latest revision as of 13:44, 13 February 2020

Definition

Electronic Funds Transfer. (EFT) It refers to any transfer of funds initiated digitally, including card payments, automatic teller machine (ATM) withdrawals, point-of-sale (POS), and debit transfers without requiring the intervention of a financial institution staff.

These transactions can take place within the same organization, or across accounts spread between one or more financial institutions in the financial network.

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