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The phrase 'electronic funds transfer' is correct and usable in written English.
You can use it to refer to the process of sending money from one bank account to another via digital means such as internet banking or a mobile app. For example, "I used an electronic funds transfer to quickly send the money to my friend's account."
Exact(50)
Increasingly, however, the pirates accept money using electronic funds transfer.
Data Processing and Electronic Funds Transfer Activities, 47 Fed.Reg.Reg
This fourth type of electronic funds transfer reduces costs by eliminating paper checks.
Download and return a copy of our electronic funds transfer (EFT) form.
Entrepreneur magazine offers this tip: "Use electronic funds transfer to make payments on the last day they are due.
Its features include electronic funds transfer for retail purchases, automatic teller machines (ATMs), and automatic payroll deposits and bill payments.
Similar(10)
"To push that for ordinary Sunday contributions doesn't make a lot of sense when we have our own electronic-funds transfer already in place".
If you are expecting a stipend or financial aid refund and have not signed up for Electronic Funds Transfer EFTto to receive your funds via direct electronic deposit to your bank account, you can sign up via CalCentral now.
All students should sign up for Electronic Funds Transfer (EFT) at http://eftstudent.berkeley.edu/.edu/
To sign up for direct deposit (also called EFT), go to the Electronic Funds Transfer (EFT) website.
"The thing we found troubling," said H. Kurt Helwig, who runs the Electronic Funds Transfer Association, was that "this was organized crime".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com