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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

Next-Day Funding Receiving funds in your account the next business day. Same-Day Funding Receiving funds the same day a transaction is settled. EFT (Electronic Funds Transfer) Same as ACH, used more often in Canada. EMV Chip technology on credit cards. ACH (Automated Clearing House) The U.S.

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Understanding Electronic Funds Transfer (EFT)?

Nanonets

ACH Transfers as EFT ACH transfer is a type of EFT, or electronic funds transfer. The ACH network is a nationwide network of banks and financial institutions that handle electronic funds transfers. ACH Transfers: Typically 1-2 business days, but same-day options are available.

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Understanding Electronic Funds Transfer (EFT)?

Nanonets

ACH Transfers as EFT ACH transfer is a type of EFT, or electronic funds transfer. The ACH network is a nationwide network of banks and financial institutions that handle electronic funds transfers. ACH Transfers: Typically 1-2 business days, but same-day options are available.