What is an electronic funds transfer?
The Bankrate.com financial term of the day is: "Electronic Funds Transfer" or "EFT"
Money used to move around primarily in physical forms, namely cash and checks. Now, the movement of money can simply be a matter of computers talking to one another. An electronic funds transfer, or EFT, sends money from one account to another via automated teller machines and other electronic systems.
An electronic funds transfer, or EFT, sends computerized currency from one account to another automatically.
To find the perfect bank account, visit the Bank Accounts section at Bankrate.com.
Spreading your money across multiple accounts isn't necessarily bad, but there are some drawbacks.
Pay attention to fees on prepaid cards because in most cases you can avoid them.
Banks are coming up with new ways to charge fees. Here's what you need to know to avoid them.
How did consumers respond when asked about job security, savings, net worth, and debt?
Comparison shopping will help you know deals from duds at a dollar store.
Looking to save money? Here are eight easy ways to save $5,000 in one year.
Mortgage rates jumped this week.
New car loan rates fell 1 basis point each.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.
While gas prices have dropped dramatically, the sales of diesel cars has continued to grow, rising 13.5 percent in 2014 over 2013, according to the latest data compiled by IHS Automotive for the Diesel Technology Forum.
... Read more