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electronic funds transfer

Definition of electronic funds transfer

  1. :  transfer of money from one bank to another using their computer systems <We did an electronic funds transfer.>



Word by Word Definitions

electronicplay
  1. :  of or relating to electrons

    :  of, relating to, or utilizing devices constructed or working by the methods or principles of electronics

    :  implemented on or by means of a computer :  involving a computer

fundplay funds
  1. :  a sum of money or other resources whose principal or interest is set apart for a specific objective

    :  capital

    :  an available quantity of material or intangible resources :  supply

  1. :  to make provision of resources for discharging the interest or principal of

    :  to provide funds for

    :  to place in a fund :  accumulate

transferplay
  1. :  to convey from one person, place, or situation to another :  move, shift

    :  to cause to pass from one to another :  transmit

    :  transform, change

  1. :  conveyance of right, title, or interest in real or personal property from one person to another

    :  removal or acquisition of property by mere delivery with intent to transfer title

    :  an act, process, or instance of transferring :  transference


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