---
updatedAt: 2025-11-08T23:14:19.000Z
agentTools:
  projectIndex: https://docs.moderntreasury.com/payments/llms.txt
---

# Canadian EFT

Electronic Funds Transfer, commonly referred to as EFT, are bank to bank transfers in Canada. EFT is very similar to ACH in the United States. These payments can include bill payments, person to person payments, direct deposits, and fund transfers.

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            Settlement Time
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              ?
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                This is the time it takes to finalize a transaction and transfer funds between bank accounts.
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            Credit
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                These are push transfers from your bank account to an external bank account.
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            Credit Reversable
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            Debit
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              ?
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                These are pull transfers from an external bank account to your bank account.
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            Debit Reversable
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            1-2 days
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            Yes
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            Yes
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            Yes
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            Yes
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