by 
esjayay
ANSWERS: 1
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Its when money is transferred from one bank account to another via the computer system. I.e. no physical money actually changes hands but it can be instant (if its the same bank) or can take up to 2 or 3 days if its going to a different bank. Example, my father in law sent me and the wife some money from a will. He set up the transfer on his computer on the Tuursday and it was in my bank account by the Saturday morning. If you have internet banking you can do it online from your own computer, otherwise you could ring your bakn and set it up over the phone. Its safe, easy and quick.
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