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.
If you are making your EFT payment by ACH debit, you must submit a new Authorization Agreement for Electronic Funds Transfer form BOE-555-EFT (Sales and Use Tax) or BOE-555-ST (Special Taxes) with the new information. If you are making your EFT payment by ACH credit, you do not need to notify us of the change.