Bankers use a lot of acronyms and you’ve likely seen these before. EFT stands for Electronic Funds Transfer and ACH is ‘short’ for Automated Clearing House. An EFT could be a wire transfer that moves money from bank to bank immediately through the Federal Reserve System. An EFT could also be a credit that moves through the Automated Clearing House for posting on a future date. One of the best examples is direct deposit of payroll. Sometimes EFT and ACH are used interchangeably. Either way, AASB helps you best manage your cash flow by providing you with the means to electronically send payroll credits, make payments to vendors or collect money owed you.