electronic funds transfer

noun

the use of telecommunications networks to transfer funds from one financial institution, as a bank, to another, or to withdraw funds from one's own account to deposit in a creditor's. Abbreviation: EFT

Origin of electronic funds transfer

First recorded in 1970–75

Words nearby electronic funds transfer

electronic fetal monitor, electronic file cabinet, electronic flash, electronic flight information systems, electronic footprint, electronic funds transfer, electronic funds transfer at point of sale, electronic game, electronic graphics, electronic ignition, electronic imaging