What Does EFT Stand For?

EFT stands for Electronic Fund Transfer

EFT, or Electronic Fund Transfer, refers to the electronic movement of money between bank accounts, enabling transactions such as deposits, withdrawals, and payments without the need for physical cash or checks. This technology facilitates secure and efficient financial operations for both individuals and businesses, streamlining payment processes and reducing transaction times. Common forms of EFT include direct deposits, online bill payments, and money transfers.

Other Meanings for EFT