There are a few advantages of an electronic funds transfer (EFT), including less "float" time, meaning the time it takes for a paper check to clear the federal reserve. It is less labor intensive on the banking side, and... More »

An electronic funds transfer works by using computer and electronic technology rather than paper transactions in order to transfer money, as stated on the Consumer Information page of the Federal Trade Commission. Common... More »

A disadvantage of electronic funds transfer (EFT) is that the process cannot be reversed if a sender should enter an incorrect account number. The APSense website states that other disadvantages associated with EFT inclu... More »

A disadvantage of electronic funds transfer (EFT) is that the process cannot be reversed if a sender should enter an incorrect account number. The APSense website states that other disadvantages associated with EFT inclu... More »

Online bill payment uses the electronic transfer of funds to pay bills without having to write a check or mail a voucher. Companies may make online payment options available to their customers. Alternatively, a bank or a... More »

www.reference.com Business & Finance Personal Banking

Hills Bank and Trust Company, located in Iowa, offers personal account online services including check deposit, bill payment and funds transfer. The online personal finance management feature lets account holders add cre... More »

www.reference.com Business & Finance Personal Banking

TD Canada Trust EasyLine offers an automated telephone service that allows account holders to pay bills, confirm account balances, transfer funds between accounts, check bill payment history and receive interim statement... More »

www.reference.com Business & Finance Personal Banking