EFTS

1 Posts
1 Sections
1 Types

August 25, 2024 3 min read Definitions

Electronic Funds Transfer System (EFTS): Enhancing Financial Efficiency

Finance Banking EFTS Electronic-Transfer Finance Technology Digital Banking Money Transfer

An Electronic Funds Transfer System (EFTS) is any electronic transmission system that moves funds from one institution to another, replacing the need for physical exchanges such as paper checks. This article comprehensively covers EFTS’s definitions, types, historical context, applicability, comparisons with traditional methods, FAQs, and more.