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electronic funds transfer, EFT
1. The use of telecommunications networks to transfer funds from one financial institution; such as, a bank, to another bank, or to withdraw funds from one's own account to deposit in a creditor's account.
2. A system for transferring monetary funds from one account or location to another one by computer.
This entry is located in the following units: electro-, electr-, electri- (page 64) trans-, tran-, tra- (page 3)