Stax

MARCH 27, 2025

Thats why 92% of consumers and 82% of companies reportedly made the switch to electronic payments, like Electronic Funds Transfers (EFT) and Automated Clearing House (ACH). TL;DR: Electronic Funds Transfer (EFT) is the umbrella term for all electronic payments made between bank accounts.

ACH 88

ACH Electronic Funds Transfer (EFT) Wire Transfer Wire 88

Stax

JULY 9, 2024

EFT payments automate these processes, resulting in more accurate record-keeping and reducing the administrative burden. Additionally, automated record-keeping and electronic transaction histories simplify auditing and financial reporting, making it easier for businesses to maintain compliance with regulatory requirements.

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

EBizCharge

JUNE 3, 2024

This cost efficiency, coupled with the heightened security features of modern electronic transfer systems, underscores the critical importance of EFTs in today’s financial ecosystem. These electronic transfers range from automated payments to on-demand transfers.

Funds Transfer 52

Funds Transfer Electronic Fund Transfer Act (EFTA) Electronic Funds Transfer (EFT) Wire Transfer 52

Stax

NOVEMBER 11, 2024

ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. The average consumer commonly uses the ACH network for automated bill payments and larger transactions. In fact, NACHA, the nonprofit that governs the ACH payments network reported 6.1% in Q4 2021.

ACH 88

ACH Checks Identity Theft Payments 88

Payment Savvy

NOVEMBER 9, 2022

An EFT payment isn’t just one type of payment – several different types of EFT payments come under the Electronic Fund’s Transfer umbrella. These can include using a credit or debit card, an electronic check, or an ACH (Automated Clearing House) transfer. Electronic Checks.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98

Global Fintech & Digital Assets

DECEMBER 21, 2023

Operational Risk Banks furnishing BNPL loans via automated processes “with instantaneous credit decisioning and frequent strong reliance on third parties” may experience higher rates of borrower fraud and default.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

Stax

SEPTEMBER 24, 2024

Non-discriminatory – Federal regulations like the Electronic Funds Transfer Act (EFTA) have guidelines in place to ensure that cash discounts are offered to all customers who pay using cash without discriminating against customers who pay using credit. If yours can’t, consider CardX by Stax.

Credit Cards 88

Credit Cards Electronic Fund Transfer Act (EFTA) Push-to-Card Debit Card 88