EFT

Electronic Funds Transfer Electronic Fund transfer refers to the computer based system used to perform financial tansactions electronically

examples of this include :
 * cardholder-initiated transactions, where transactions are made by payment cards such as credit card and debt card.
 * electronic bill payment in online banking
 * transactions involving stored value of electronic money
 * Wire transfers between Internationsal banking networks
 * Electronic Benefit Transfer

__Advantages__
 * faster transfers of money
 * easier to keep track of
 * can be accessed from any place with a network connection

__Disadvantages__
 * if there was ever a problem with the system in the middle of a transfer money can be lost
 * if too many transfers are made at once it can cause queus in the network

here is a video example of an electronic funds transfers

media type="youtube" key="AdcicSIOu1s" height="313" width="406"