EFT

Accounting Dictionary

EFT

Electronic Funds Transfer.

Instead of writing paper checks and sending them through the physical mail, many people pay bills by sending the money electronically directly from their checking account to the payee’s checking account. This is called Electronic Funds Transfer. The IRS requires many employers to use EFT for their tax payments.

Sign Up to Learn More!

Join our mailing list today to get notified of new discount offers, course updates, Roger CPA Review news, and more!