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.
This Guide provides information regarding the payment methods available for remitting certain taxes to. the Virginia Department of Taxation (TAX) using Electronic Funds Transfer (EFT). I. EFT GENERAL INFORMATION. Electronic Funds Transfer (EFT) involves the transfer of funds from your bank account to the State's.