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How to Make an EFT Payment: A Step-by-Step Guide Gather necessary information. Choose your payment method. Log in to your banking platform. Enter payment details. Review and confirm the payment. Track the payment.
Electronic funds transfer (EFT)is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
Because EFT is an umbrella term, it covers a broad range of payments, including telephone-based transfers, computer-based transfers (i.e., online), ATM transfers, Direct Debit, bank transfers, point-of-sale transfers, e-checks, and so on.
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An electronic funds transfer (EFT), or direct deposit, is a digital money movement from one bank account to another. These transfers take place independently from bank employees. As a digital transaction, there is no need for paper documents.
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What is an EFT payment? An electronic funds transfer (EFT), or direct deposit, is a digital money movement from one bank account to another. These transfers take place independently from bank employees. As a digital transaction, there is no need for paper documents.

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