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 benefits transfer (EBT). Electronic benefits transfer, or EBT, is a system through which recipients of certain government benefits receive and spend funds electronically, using a plastic EBT card similar to a bank debit card. Benefits are deposited electronically into the recipient's program account.