{"id":573,"date":"2013-10-04T09:59:37","date_gmt":"2013-10-04T13:59:37","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=573"},"modified":"2023-01-12T16:59:02","modified_gmt":"2023-01-12T21:59:02","slug":"electronic-funds-transfer-eft","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/","title":{"rendered":"Electronic Funds Transfer (EFT)"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>An Electronic Funds Transfer (EFT) is the electronic transfer of money from one account to another, either within a single financial institution or across multiple institutions.\u00a0 Outside of Canada, EFT is referred to as ACH (Automated Clearing House).<\/p>\n<h3>Why is it important?<\/h3>\n<p>A number of EFT systems are used at Carleton.\u00a0 They aid in faster, more accurate processing by reducing duplicate data entry and through the ability to process large volumes of data in a short time frame. Examples include:<\/p>\n<ul>\n<li>payroll and reimbursements to employees are done via direct deposit<\/li>\n<li>direct deposit is offered to our suppliers through Accounts Payable<\/li>\n<li>most students pay their tuition either through the electronic bill payment system offered by Canadian banks or electronically through our partnership with Western Union Global Solutions.<\/li>\n<\/ul>\n<h3>Where do I find more information?<\/h3>\n<ul>\n<li>For more information regarding student payments, please review: <a href=\"http:\/\/carleton.ca\/studentaccounts\/fee-payment\/payment-methods\/\" target=\"_blank\" rel=\"noopener noreferrer\">Payment Methods<\/a><\/li>\n<li>For more information about requesting a wire transfer,\u00a0 please review: <a href=\"http:\/\/carleton.ca\/financialservices\/business-operations\/accounts-payable\/intl-payments\/\" target=\"_blank\" rel=\"noopener noreferrer\">International Payments<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is it? An Electronic Funds Transfer (EFT) is the electronic transfer of money from one account to another, either within a single financial institution or across multiple institutions.\u00a0 Outside of Canada, EFT is referred to as ACH (Automated Clearing House). Why is it important? A number of EFT systems are used at Carleton.\u00a0 They [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":54,"menu_order":33,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Electronic Funds Transfer (EFT) - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? An Electronic Funds Transfer (EFT) is the electronic transfer of money from one account to another, either within a single financial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/\",\"url\":\"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/\",\"name\":\"Electronic Funds Transfer (EFT) - Financial Administration Community Training &amp; Solutions\",\"isPartOf\":{\"@id\":\"https:\/\/carleton.ca\/facts\/#website\"},\"datePublished\":\"2013-10-04T13:59:37+00:00\",\"dateModified\":\"2023-01-12T21:59:02+00:00\",\"description\":\"What is it? An Electronic Funds Transfer (EFT) is the electronic transfer of money from one account to another, either within a single financial\",\"breadcrumb\":{\"@id\":\"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/carleton.ca\/facts\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Glossary\",\"item\":\"https:\/\/carleton.ca\/facts\/glossary\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"E\",\"item\":\"https:\/\/carleton.ca\/facts\/glossary\/e\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Electronic Funds Transfer (EFT)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/carleton.ca\/facts\/#website\",\"url\":\"https:\/\/carleton.ca\/facts\/\",\"name\":\"Financial Administration Community Training &amp; Solutions\",\"description\":\"Carleton University\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/carleton.ca\/facts\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Electronic Funds Transfer (EFT) - Financial Administration Community Training &amp; Solutions","description":"What is it? An Electronic Funds Transfer (EFT) is the electronic transfer of money from one account to another, either within a single financial","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/","url":"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/","name":"Electronic Funds Transfer (EFT) - Financial Administration Community Training &amp; Solutions","isPartOf":{"@id":"https:\/\/carleton.ca\/facts\/#website"},"datePublished":"2013-10-04T13:59:37+00:00","dateModified":"2023-01-12T21:59:02+00:00","description":"What is it? An Electronic Funds Transfer (EFT) is the electronic transfer of money from one account to another, either within a single financial","breadcrumb":{"@id":"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/carleton.ca\/facts\/glossary\/e\/electronic-funds-transfer-eft\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/carleton.ca\/facts\/"},{"@type":"ListItem","position":2,"name":"Glossary","item":"https:\/\/carleton.ca\/facts\/glossary\/"},{"@type":"ListItem","position":3,"name":"E","item":"https:\/\/carleton.ca\/facts\/glossary\/e\/"},{"@type":"ListItem","position":4,"name":"Electronic Funds Transfer (EFT)"}]},{"@type":"WebSite","@id":"https:\/\/carleton.ca\/facts\/#website","url":"https:\/\/carleton.ca\/facts\/","name":"Financial Administration Community Training &amp; Solutions","description":"Carleton University","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/carleton.ca\/facts\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"}]}},"acf":{"banner_image_type":"none","banner_button":"no"},"_links":{"self":[{"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/pages\/573"}],"collection":[{"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/comments?post=573"}],"version-history":[{"count":5,"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/pages\/573\/revisions"}],"predecessor-version":[{"id":7473,"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/pages\/573\/revisions\/7473"}],"up":[{"embeddable":true,"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/pages\/54"}],"wp:attachment":[{"href":"https:\/\/carleton.ca\/facts\/wp-json\/wp\/v2\/media?parent=573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}