Some banking terms, such as EFT and remittance, are used quite often. So, how is the EFT and transfer transaction made from a credit card
The question of how to make an EFT and transfer transaction from a credit card is very important for those who are curious about this situation. Because the number of people who have a credit card today is quite high compared to people who don’t. It can be said that the use of credit cards is more common than the use of cash. That is why the terms EFT and remittance are used quite often.
How Are EFT And Transfer Transactions Made From Credit Card
What Do EFT And Remittance Mean?
Before knowing how to make EFT and transfer from a credit card, it is necessary to learn what EFT and transfer mean. EFT stands for electronic fund transfer, but Deciphers the meaning of interbank transfer. It is Decoupled between different banks. But the point to be noted here is that the transfer to different people in other banks is an EFT, and the same person’s account in another bank is also called an EFT.
The answer to the question of how EFT is realized is that it can be done by going to the bank, or it can also be done online. The EFT transaction can be performed with the account number of the recipient person-institution and the bank branch or the recipient’s name, surname and IBAN number.
On the other hand, a transfer is the transfer of money in a bank account to an account belonging to another person in the same bank or to an account belonging to the same person.
EFT and remittance are two concepts that are often confused very often. However, while EFT transactions may take a longer time because they take place between two different banks, the transfer process can be done 24/7 because it is over accounts with the same bank. Dec.
How Is the EFT And Transfer Transaction From A Credit Card Performed?
In order to answer the question of How the EFT And Transfer Transaction from a Credit Card Takes Place, it is necessary to have a credit card first. When a credit card is mentioned, it usually comes to mind to enter information from the post device or online and make a transaction.
So, is it possible to make an EFT from a credit card? It is possible to make an EFT from a credit card. First of all, in order to make an EFT from a credit card, it is necessary to have a cash advance limit. If the limit is available, the EFT transaction can be performed online at an ATM, bank branch, telephone banking or the Internet. When making an EFT from a credit card, transactions are usually made instantaneously, not dated. Usually a fee is charged.
In order to make an EFT transaction from a credit card, the recipient’s first and last name, iban number or account number, as well as a phone number are required. Money transfer is carried out from the EFT area.
In order to make a transfer from a credit card, a cash advance limit is also required, just like in an EFT transaction. Although the transaction fee varies from bank to bank, it is usually not charged. If the limit is available, the transfer is selected from the money transfer section, and after entering the iban or account number of the person to be sent, the phone number should also be entered and the account from which the money will be sent should be selected. Thus, the transfer from the credit card will take place.
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