Electronic Funds Transfer (EFT) by ACH. Direct Debits, Direct Credits, Direct Deposit.

What is Electronic Funds Transfer (EFT) ?

Basically, EFT is nothing but automated electronic transfers between bank accounts. Since almost everyone has a bank account, it is the most widely supportable (sometimes even the most commonly used) payment method.

It works for collecting (direct debits) as well as for disbursing money (direct deposits / credits).
Transactions are exchanged and processed thru each country's local clearing sytem (ACH, BACS etc.).

EFT can elegantly replace litterally any other payment method like checks, money orders, in- and outgoing manual wire transfers and, of course, credit cards with their high discount fees.

Next: How EFT works with ANYPAY

	Electronic Funds Transfers

EFT Overview > What is EFT ? How it works What it costs How to set up EFT Why EFT ? Why ANYPAY ? General info Glossary	What is Electronic Funds Transfer (EFT) ? Basically, EFT is nothing but automated electronic transfers between bank accounts. Since almost everyone has a bank account, it is the most widely supportable (sometimes even the most commonly used) payment method. It works for collecting (direct debits) as well as for disbursing money (direct deposits / credits). Transactions are exchanged and processed thru each country's local clearing sytem (ACH, BACS etc.). EFT can elegantly replace litterally any other payment method like checks, money orders, in- and outgoing manual wire transfers and, of course, credit cards with their high discount fees. Next: How EFT works with ANYPAY Sign up now for free - it's easier to explore than to explain ;-).