ELECTRONIC FUNDS TRANSFER
\ˌɛlɪktɹˈɒnɪk fˈʌndz tɹˈansfɜː], \ˌɛlɪktɹˈɒnɪk fˈʌndz tɹˈansfɜː], \ˌɛ_l_ɪ_k_t_ɹ_ˈɒ_n_ɪ_k f_ˈʌ_n_d_z t_ɹ_ˈa_n_s_f_ɜː]\
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(EFT, EFTS, - system) Transferof money initiated through electronic terminal, automatedteller machine, computer, telephone, or magnetic tape. Inthe late 1990s, this increasingly includes transfer initiatedvia the World-Wide Web. The term also applies to creditcard and automated bill payments.Glossary (http://fms.treas.gov/eft/glossary.html).
By Denis Howe
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.
Nearby Words
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