When customers send their remittances electronically to the company's bank,this is called

Name: When customers send their remittances electronically to the company's bank,this is called
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Electronic funds transfer (EFT) is the process of transferring funds electronically from one bank account to another. EFT is commonly used in businesses for vendor payments, payroll, and collections. When customers send their remittances electronically to the company's bank, it is considered EFT.

When Customers Send Their Remittances Electronically to the Company's Bank,this