Types of EFT Payments Although all EFT payments involve an electronic transfer of funds, there are several different kinds to consider.

Electronic Funds Transfer (EFT): The electronic exchange (transfer of money from one bank account to another), either within a single financial institution or across multiple institutions, through ...

One of the most common types of transfers occurs on an electronic funds transfer network called the Automated Clearing House (ACH).

Requests for additional information or clarification concerning an electronic funds transfer CFPB rules don’t cover all types of electronic transactions, however.

Electronic funds transfer (EFT). A method of transferring funds between banks, businesses or individual people. Two types of EFT are the automated clearing house (ACH) network and wire transfers.

Direct deposit is a type of electronic funds transfer (EFT). With it, your employer deposits your earned wages for that period directly into your account — usually you checking account.

“The era of Electronic Funds Transfer (EFT) is undoubtedly on its way. Automated clearing houses have been set up to transfer payments from bank to bank via computer; pay-by-phone services are ...

These and many other types of electronic funds transfer (EFT) fraud are prolific. Yet, most people think this could not happen to them — until it does. Businesses need to adopt safeguards to avoid EFT ...