electronic funds transfer system

E e

Definitions of electronic funds transfer system words

abbreviation Technical meaning of ELECTRONIC FUNDS TRANSFER SYSTEM electronic funds transfer 3
noun Definition of electronic funds transfer system in Technology (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 system a system which allows funds to be transferred using electronic banking 0

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A common word. It’s meaning is known to most children of preschool age. About 92% 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".

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