Remove Direct Deposit Remove Electronic Fund Transfer Act (EFTA) Remove Wire Transfer
article thumbnail

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

EBizCharge

This electronic payment method is integral to modern life, supporting everything from online shopping to managing recurring bills through direct debit agreements. Here’s a brief overview of the prominent types: Automated Clearing House (ACH): ACH transfers are a reliable and often-used form of EFT.

article thumbnail

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

Stax

An ACH payment is an electronic check (or eCheck ) processed through the Automated Clearing House network and uses banking information, including the bank account number and routing number, to transfer funds between the sender and recipient accounts. There are two types of ACH transactions: ACH credit and ACH debit.

article thumbnail

What Is an EFT Payment?

Payment Savvy

Setting up direct deposit for your paycheck. Transferring money between your own accounts at different banks. Today, many different types of EFT services are available, ranging from direct deposit to online banking. Direct Deposit. Electronic Checks. Wire Transfer.