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Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.
It can be used as much as required, provided that the daily limit is not exceeded and there are enough funds in the account.
From e-transfers to traditional methods of payment various options are available to transfer money which are as follows: ACH Transfer, Online Transfer, Wire Transfer, PayPal, International Money Order, Bank Drafts and Cashiers Checks, Personal Checks, E-mail Money Transfer.
Money transfer is an important term associated with the banking and finance industry. It is important to understand what it means and what it does. A money transfer is basically a transfer of money from a card to a bank or from one bank to another.
Read MoreThere are other options for overseas money transfer like money transfer operators and international bank wire transfers.
Read MoreNormally banks do not grant international transaction of funds unless such transactions are specifically requested for and provided the bank has such facilities inbuilt in their system. This is because all banks don't have international liaisons.
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Host Of FacilitiesHolding an online bank account, you can check your balances, set auto bill payments, transfer funds between accounts, view and print your account statements.
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