EFT (Electronic Funds Transfer)

The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

Related Terms

  • Corporate Trade Exchange (CTX)

    A corporate trade exchange (CTX) is a system used by corporations and agencies of the government for monetary transfer. They are primarily used to pay trading partners...

    Learn More
  • FISMA (Federal Information Security Management Act)

    The Federal Information Security Management Act requires all federal agencies to implement cybersecurity programs to protect the information from unauthorized access.

    Learn More