Electronic Funds Transfer (EFT) is a system for transferring money from one bank account to another via computer-based systems.
Questions tagged [eft]
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Why is EMV chip+signature gaining popularity over chip+PIN in the United States?
With the U.S. finally making the transition to EMV technology, I am surprised that the major banks are going with Chip+Signature technology over Chip+PIN. I think it is far more convenient for the consumer to use Chip+PIN rather than signature. …
Jesse
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Why Debit MasterCard if there is already Maestro?
In some parts of the world MasterCard is offering its "Debit MasterCard" instead of or alongside its Maestro brand which is a debit only system.
Question is: Which one has been there longer and why would they introduce the other one? I suppose they…
Arminius
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You're in Ontario and are setting up Autoload on your Presto fare card. Credit or debit? Which threshold and Autoload values should you pick? And why?
The Presto fare card is a contactless public-transit fare-payment smart card issued in various big cities in Ontario, Canada. These cities include Toronto, Ottawa, and others. You wave the card in front of a reader in order to pay your fare.
The…
unforgettableidSupportsMonica
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Specifying the Financial Institution Address for a Direct Bank Transfer
I'm filling a Direct Bank Transfer form and they ask me for my Financial Institution Address. My question is, is this a local branch address, or bank headquarters?
markg
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Why would an insurer ask for a voided check instead of account+routing numbers to send an electronic funds transfer (EFT)?
Some insurer in the US has to send me some money. They wrote me the following:
If you would like an EFT deposit we would need a copy of a voided check.
Why would an insurance ask for a voided check instead of account+routing numbers to send an…
Franck Dernoncourt
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Will an international EFT reach my account even though I got the bank address and code wrong?
I have provided with all the correct bank details but my bank address is wrong and last three digit of swift code of my bank is of same bank but of another branch. Will I receive the money from EFT?
T Rex
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