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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.
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Value Added Reseller (VAR)
A value added reseller is a company that sells products and / or services that are repackaged for specific needs.
Related Terms
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Lockbox
Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...
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