Electronic funds transfer

{
  "id": "MLC-T-ENV-009186",
  "term": "Electronic funds transfer",
  "field": "Environment",
  "term_source": "Electronic Funds Transfer",
  "definition": "Any transfer of funds, other than a transaction originated by cash, check, or similar paper instrument, that is initiated through an electronic terminal, telephone, computer, or magnetic tape, for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. The term includes Automated Clearing House transfers, Fedwire transfers, and transfers made at automatic teller machines and point-of-sale terminals. For purposes of compliance with 31 U.S.C.3332 and implementing regulations at 31 CFR part 208, the term “electronic funds transfer” includes a Governmentwide commercial purchase card transaction.",
  "abbreviation": "EFT",
  "subject": "Social and economic factors",
  "references": [
    "48 CFR 2.101 (CFR 2019)"
  ],
  "url": "https://mlchart.com/terminology/environment/electronic-funds-transfer/"
}