Question

explain the electronic services EFT​

Answer 1

Answer:

An electronic fund transfer moves money from one account to another. The accounts can be at the same financial institution or two different financial institutions. The transaction is done electronically over a computerized network. EFT transactions are also referred to as electronic banking.

Hope it helps :)

Answer 2

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ᴇʟᴇᴄᴛʀᴏɴɪᴄ ғᴜɴᴅs ᴛʀᴀɴsғᴇʀ (ᴇғᴛ) ɪs ᴛʜᴇ ᴇʟᴇᴄᴛʀᴏɴɪᴄ ᴛʀᴀɴsғᴇʀ ᴏғ ᴍᴏɴᴇʏ ғʀᴏᴍ ᴏɴᴇ ʙᴀɴᴋ ᴀᴄᴄᴏᴜɴᴛ ᴛᴏ ᴀɴᴏᴛʜᴇʀ, ᴇɪᴛʜᴇʀ ᴡɪᴛʜɪɴ ᴀ sɪɴɢʟᴇ ғɪɴᴀɴᴄɪᴀʟ ɪɴsᴛɪᴛᴜᴛɪᴏɴ ᴏʀ ᴀᴄʀᴏss ᴍᴜʟᴛɪᴘʟᴇ ɪɴsᴛɪᴛᴜᴛɪᴏɴs, ᴠɪᴀ ᴄᴏᴍᴘᴜᴛᴇʀ-ʙᴀsᴇᴅ sʏsᴛᴇᴍs, ᴡɪᴛʜᴏᴜᴛ ᴛʜᴇ ᴅɪʀᴇᴄᴛ ɪɴᴛᴇʀᴠᴇɴᴛɪᴏɴ ᴏғ ʙᴀɴᴋ sᴛᴀғғ.