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.
Electronic Funds Transfer (EFT) If you prefer to pay your sales and use taxes electronically, you can take advantage of our electronic funds transfer option. If your average monthly tax liability is $20,000 or more, you are required to pay by EFT. You can use your telephone or computer and modem to initiate payment.