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.
NEFT is an abbreviated form of National Electronic Funds Transfer which is a nation-wide system of electronically fund transfer from any bank branch to any other bank branch in the country.It allows the fund transfer from any individual or firm to any other individual or firm across the country.EFT is an abbreviated form of National Electronic Funds Transfer which is a nation-wide system of electronically fund transfer from any bank branch to any other bank branch in the country.