Products FM Marketplace
Multi-dealer marketplace
FM Liquidity Match
Saas for electronic trading
FM White Label
B2B White Label Crypto Trading Platform
FM Pulse
Real-time market data analytics
FM Space
Counterparty selection
Clients Banks & brokers
Neobanks, crypto-native and FX brokers
Payment providers
PSPs, payment gateways, on/off ramp
OTC desks
Crypto trading desks, retail platforms
Buy-side
Passive funds, hedge funds, asset managers
Liquidity providers
Market makers, proprietary shops
Prime brokers
Agency and risk-principle brokers
Stablecoin issuers
Next gen of fintech
Company About Careers Blog Media kit Referral Legal Imprint Operating rules Privacy Policy Risk Disclosure Support Contact us

For Customers Log in

Contact Us

Electronic Funds Transfer (EFT) Meaning

Electronic Funds Transfer (EFT) refers to the electronic movement of money from one bank account to another without the use of paper instruments such as checks or cash. EFT is an umbrella term that covers a wide range of payment methods, including wire transfers, ACH payments, direct deposits, debit card transactions, and online bill payments. These systems form the backbone of modern banking and digital commerce.

The defining feature of EFT systems is automation. Transactions are initiated, processed, and settled through computerized networks, reducing human intervention and operational overhead. This automation enables faster processing times, improved accuracy, and lower costs compared to manual payment methods.

EFTs are widely used for salaries, government benefits, vendor payments, and consumer purchases. Speed and reliability vary depending on the specific EFT method. Wire transfers are typically processed in near real time but can be expensive, while ACH transfers are slower but more cost-effective.

Card-based EFTs offer instant authorization but may settle later. Each method balances speed, cost, and accessibility differently, depending on the use case. Security is a core consideration for EFT systems.

Encryption, authentication protocols, and transaction monitoring are used to protect against fraud and unauthorized access. Regulatory oversight also plays a significant role, as EFTs must comply with financial regulations related to consumer protection, anti-money laundering, and data privacy.

As financial systems become increasingly digital, EFTs serve as the connective tissue between institutions, businesses, and individuals. They also play a crucial role in integrating traditional finance with emerging technologies, including digital wallets, fintech platforms, and crypto services, making them a foundational component of the global financial infrastructure.

← Back to Glossary

Explore our services

Providing liquidity in the cryptocurrency market?
Authorize on our platform and do it smarter with FM Pulse.

FM Marketplace

A reliable and high-performance crypto liquidity marketplace for institutions and businesses.

Learn more

FM White Label

Launch your fully branded B2B crypto trading platform in under one week.

Learn more

FM Liquidity Match

Crypto OTC-as-a-Service infrastructure for enhanced monetization and trade control.

Learn more

Scale your business, leave the hard work of your trading needs to us

Reduce your integration costs and operational risk across multiple access points with our platform

Get started

Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.