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Thats why 92% of consumers and 82% of companies reportedly made the switch to electronic payments, like ElectronicFundsTransfers (EFT) and Automated Clearing House (ACH). EFT and ACH payments are fast, secure, and hassle-free. Thats ElectronicFundsTransfer (EFT) in action.
How Does an Electronic Check Work? An electronic check is part of a large electronic banking system and a subset of transactions referred to as electronicfundtransfers (EFTs). At this stage, funds are withdrawn from the customer’s checking account and transferred to the business’s account.
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