Electronic funds transfer (EFT)substantially reduces the collection float for businesses and the disbursement float for customers.

Name: Electronic funds transfer (EFT)substantially reduces the collection float for businesses and the disbursement float for customers.
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

EFT allows for the direct transfer of funds electronically, eliminating the need for paper checks to go through the mail or be manually deposited, which reduces the time it takes for the funds to be processed and clears the float.

Electronic Funds Transfer (EFT)substantially Reduces the Collection Float for Businesses