A prefix meaning one hundredth (1/100). Example: 1/100th of a meter is called a centimeter (there are 100 centimeters in a meter).
EFT Debits (Normal Debit Orders) EFT Debits, previously known as Magtape debits or ACB, allows a business or organisation to debit the account of their client in order to fulfil the obligations of an underlying agreement.
Content_Area1. 1  What is electronic funds transfer (EFT)? 2  What type of taxes may I pay electronically? 3  What information do I have to provide to make payments through My Tax Account?  When can I start making electronic 1  payments? What is the difference between the ACH debit and ACH credit options?