Electronic funds transfer is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems and without the direct intervention of bank staff.
SecureEFT is a streamlined version of a traditional EFT. It makes payment of a bank transfer a lot faster and easier by eliminating certain steps such as creating a beneficiary, enter reference number and amount or provide proof of payment. SecureEFT only requires a buyer to log in to their bank account and authenticate the payment through the bank one time pin.
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