AFT

AFT, or Automatic Funds Transfer, refers to the electronic movement of funds between bank accounts using advanced electronic or telecommunications technology. This process allows for the secure, automatic transfer of money without the need for manual intervention. AFTs are commonly used for recurring payments, such as payroll deposits, bill payments, and periodic transfers between accounts. This method provides a convenient, reliable, and efficient way of managing financial transactions, ensuring that funds are moved swiftly and securely across accounts, which can be particularly beneficial for businesses and individuals managing regular payment schedules.