Stax

MARCH 27, 2025

TL;DR: Electronic Funds Transfer (EFT) is the umbrella term for all electronic payments made between bank accounts. EFT is the umbrella term for all electronic transactions that transfer funds digitally between bank accounts using only bank account information.

ACH

The Finance Weekly

JANUARY 14, 2024

In a corporate context, ,, cash includes bank accounts and easily convertible assets, such as government bonds. While we usually think of cash as money in hand, it can also refer to money in bank accounts, checks, or other forms that are easily accessible and can be quickly converted to physical cash.

Assessments

Payment Savvy

NOVEMBER 14, 2022

If you’re familiar with traditional check processing, where banks manually process physical paper checks and deposit funds into the appropriate bank accounts, then you probably get the idea of electronic checks. As an eCheck comes in an electronic format, it requires fewer steps to process it.

Checks

EBizCharge

MAY 15, 2024

Funds Transfer: After authorization, the funds are transferred from the buyer’s account to the seller’s account through the chosen payment method. The time it takes for the funds to reach the seller varies depending on the payment method used.

B2B