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.
â¢ A health care EFT transaction - electronic. message used by health plans to order, instruct or authorize a depository financial. institution (DFI) to electronically transfer. funds through the Automated. Clearinghouse (ACH) network from one. account to another. âACH network â the secure electronic network. for the direct transfer of funds and data from. one DFI account to another.