Topics discussed: payment system fundamentals, checks, electronic funds is why EFT payments are much cheaper and faster than payments by paper check. The Electronic Federal Tax Payment System® tax payment service is provided free by the U.S. Department of the Treasury. After you've enrolled and received. Electronic Funds Transfer (EFT) is a system of transferring money from one bank It is used for both credit transfers, such as payroll payments, and for debit.
