EFT Full Form in Banking | What is the Full Form of EFT

By | September 9, 2023

You can try the full form of EFT and gain confidence at least in meaning of EFT. Edumantra takes good care of you so buying books  for competitive exams is not necessary.  Additionally we would like to tell that the full form of EFT is Electronic Fund Transfer.


EFT Definition

Electronic funds transfer (EFT) are 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.

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 EFT Full-Form | What is Electronic funds transfer  (EFT)

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In this era of modern inventions and theories, where all that the world seems to know is various ways of using the internet, the EFT is one such, which helps the people in various ways.

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By the help of the Electronic Fund Transfer, one can transfer the amount that other needs or wants from any corner of the nation and would be able to help the one who needs it.

Anyways the EFT is one of the most helpful concepts of the recent age banking and electronics. The technology is a real boon for the banking sector as it helps to save a lot of time in the fund transfer if not done in this way.

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The EFT helped the disaster victims get the help and the money that they required in this time of distress.

Download the above Full-Form in PDF (Printable)