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What is an EFT Payment? Everything to Know About This Method of Payment

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An Electronic Funds Transfer is an umbrella term for payments that are conducted electronically—essentially, any payment method except for cash and paper checks. EFT payments are transactions between the sender and receiver that transfer funds electronically from the sender’s bank account to the receiver’s.

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The Basics of Electronic EFTs: What is an Electric Funds Transfer?

EBizCharge

What is an electronic funds transfer (EFT)? An electronic funds transfer , or EFT, is a core pillar of modern banking and transactions. The term encompasses a broad range of electronic financial transactions in which funds are transferred from one bank account to another without physical exchange.

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5 Benefits of ACH Payments Over Check Payments

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They are an additional type of payment you can take along with debit card transactions and credit card payments from card networks like Mastercard, Visa, American Express, and Discover. Or mobile wallet payment solutions like Google Pay and Apple Pay. TL:DR ACH Payments are essentially digital check payments.

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What Is an EFT Payment?

Payment Savvy

EFT payments are becoming increasingly popular as more and more people conduct their financial affairs online. Transferring money between your own accounts at different banks. These can include using a credit or debit card, an electronic check, or an ACH (Automated Clearing House) transfer.