electronic funds transfer

E e

Definitions of electronic funds transfer words

noun Technical meaning of electronic funds transfer (application, communications) (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. In the late 1990s, this increasingly includes transfer initiated via the web. The term also applies to credit card and automated bill payments. 1
noun electronic funds transfer a transaction made using electronic banking 0

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A common word. It’s meaning is known to most children of preschool age. About 89% of English native speakers know the meaning and use the word.

Most Europeans know this English word. The frequency of it’s usage is somewhere between "mom" and "screwdriver".

This diagram is provided by Google Ngram Viewer

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