What is an 'EFT' and why is it preferred by many providers?

What is an 'EFT' and why is it preferred by many providers?

• A. Electronic Filing of Transfers; it documents paper checks
• B. Equalized Fee Transfer; it standardizes rates
• C. Emergency Fund Transfer; it's for urgent refunds
• D. Electronic Funds Transfer; it transfers payments electronically directly to the provider’s bank account, faster and reduces processing

Answer: (D)