What is Electronic Funds Transfer?
Electronic Funds Transfer (EFT) is an electronic transfer of funds through a national automated clearinghouse directly into your bank account.
What are the Benefits of EFT?
- Saves money! “Going green” reduces Ithaca College's expenses for: customized check paper, envelopes, postage, and specialized toner
- Eliminates mail time, misdirected and misplaced checks
- Assists employees, students and suppliers by depositing payments directly into savings or checking accounts
How do I sign up?
- Employees - Follow the instructions in the Managing Bank Accounts user guide
- Suppliers can sign up for electronic payment when they register with Ithaca College
- Students must register as suppliers to receive reimbursement