Bank Giro Credit (BGC) is a method used to transfer funds electronically from one bank account to another, often used for personal payments, utility bills, and other financial transactions.
A bank transfer is a method of transferring funds from one bank account to another, either within the same financial institution or between different institutions, through electronic means.
A financial arrangement where funds, such as dividends or salaries, are electronically transferred directly into a recipient's bank account, bypassing the need for physical checks.
EFTPOS is an abbreviation for Electronic Funds Transfer at Point of Sale, referring to a payment system that allows customers to make payments using electronic methods directly at the place of purchase.
Electronic Funds Transfer (EFT) involves the transfer of money from one bank account to another through electronic means, leveraging computers and communication links. It encompasses various seamless financial services, including home banking and point-of-sale systems.
EFTPOS is the automatic debiting of a purchase price from a customer's bank or credit-card account through a computer link between the checkout till and the bank or credit-card company, often involving chip-and-PIN systems for secure transactions.
FedWire is a high-speed, computerized communications network that facilitates electronic funds transfers between U.S. banks and the Federal Reserve System. It is essential for the transfer of reserve balances and customer transactions.
A Personal Identification Number (PIN) is a numeric password used for securing transactions and verifying the identity of the cardholder in various financial systems such as ATMs and point-of-sale terminals.
Telegraphic Transfers (TT) are methods of transmitting money overseas by means of electronic transfer between banks. The transfer is usually made in the currency of the payee and may be credited to their account at a specified bank or paid in cash to the payee upon application and identification.
A Telegraphic Transfer, abbreviated as TT, is an electronic method of transferring funds utilized mainly in banking to move money quickly between bank accounts worldwide. This method became standard before today's more modern and efficient electronic transfer systems.
