How does EFT work?
In general, the EFT process can take up to three business days. Listed below is an example of how an EFT payment reaches your payee. Monday: Payment is issued and the EFT process initiates. The payment leaves your pending payments and can be viewed as a report. Tuesday: Your account is debited via ACH […]
What is EFT?
Electronic funds transfer, or EFT, allows us to send payments to your payees electronically, rather than printing and mailing a paper check. EFT payments are especially advantageous because your payee receives payment faster than with a paper check, and there is no risk of a check getting lost in the mail.
When are electronic payments issued?
If you authorize payment in advance, your EFT will be sent at 3 PM CT on the day you designated the payment to be sent. To have an EFT issued on the same day you authorize payment, you must authorize the transaction by 3 PM CT.
