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.
National Electronic Funds Transfer (NEFT) is one of the most common electronic fund transfer platform that allows people to transfer money from any bank account to another. This payment system that is accepted nationwide is well known because it allows quick one-to-one funds transfer.