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How does the EFT work?

An electronic funds transfer works by an individual sending money to a recipient over a secured online network through an online connected device. This can be done via a computer, phone call, mobile application, or bank card reader.

What is EFT in life insurance?

What is EFT? With Electronic Fund Transfer (EFT), you use your checking account to pay your insurance premium directly each month - without writing a check. That saves you time and money!

What are the advantages and disadvantages of EFT?

EFT payments can offer you faster and cheaper transactions, enhanced security and convenience, and simplified accounting and record-keeping. However, EFT payments also have some potential challenges and limitations, such as technical issues, fees, or regulations.

What does insurance EFT mean?

What Is an EFT? An electronic funds transfer, or EFT, is the electronic message used by health plans to order a financial institution to electronically transfer funds to a providers account to pay for health care services. An EFT includes information such as: Amount being paid.

What is EFT life insurance?

With Electronic Fund Transfer (EFT), you use your checking account to pay your insurance premium directly each month - without writing a check. That saves you time and money!

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