electronic funds transfer
EFT
EFTS
electronic funds transfer system

    (EFT, EFTS, - system) Transfer
   of money initiated through electronic terminal, automated
   teller machine, computer, telephone, or magnetic tape.  In
   the late 1990s, this increasingly includes transfer initiated
   via the World-Wide Web.  The term also applies to credit
   card and automated bill payments.

   Glossary (http://fms.treas.gov/eft/glossary.html).

   (1999-12-08)