Electronic funds transfer systems. For example, in the United States, they may be referred to as "electronic checks" or "e-checks". In the United Kingdom, the term "bank transfer" and "bank payment" are used, while in several other European countries "giro transfer" is the common term. EFTs include, but are not limited to: Electronic funds transfer Electronic funds transfer (EFT) are electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff. According to the United States Electronic Fund Transfer Act of 1978 it is
UAE Exchange transfer service in the UK. By 2003, it added Australia to its network. In 2003 it launched services for the corporate sector; in 2004 it introduced a web-based money transfer process. Between 2005 and 2009 it opened offices in Hong Kong, Uganda, Jordan, Canada, New Zealand and China, as well as purchasing "Moneydart Global Services" in the United States. It also launched an online money transfer portal, Money2anywhere.com. XPay; the bill payment solution using mobile phone was also brought out in India. In 2009 it became an Authorized Payment Institution (API) with the UK financial regulator Financial Services Authority, which