-
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.
Learn More
Check-by-Phone
Check by Phone or “checks by phone” is the patented process of recreating and printing a check without having the original paper check. Check by Phone payments are remotely authorized and do not require the signature of the payer. Learn more about Check by Phone here.
Related Terms
-
MTE (Machine Transfer Entry)
An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.
Learn More