Written by Modulr | Jul 24, 2025 11:00:00 PM
Automated Fund Transfer (AFT), also known as Electronic Funds Transfer (EFT), involves moving money from one bank account to another electronically. In Canada, AFT is used for recurring payments like payroll, while EFT is a global term covering a broad range of digital transfers – including ACH in the US, SEPA Credit in Europe, and other regional schemes.