--- title: Bank Transfer Security description: What Is an Electronic Funds Transfer? An EFT payment, put simply, is a way to send or receive money between bank accounts without the need for paper checks or cash. They encompass a wide variety of tr --- [Skip to content](https://support.cashflow.io/bank-transfer-security#main-content) - [English](https://support.cashflow.io/bank-transfer-security) - [Français](https://support.cashflow.io/fr/sécurité-des-virements-bancaires) English Show submenu for translations [SUBMIT TICKET](https://support.cashflow.io/kb-tickets/new?hsLang=en) ![1ef9feff-d100-41b2-b671-44bcd32aa593](https://support.cashflow.io/hs-fs/hubfs/1ef9feff-d100-41b2-b671-44bcd32aa593.png?width=311&height=75&name=1ef9feff-d100-41b2-b671-44bcd32aa593.png) Open main navigation Close main navigation - - [English](https://support.cashflow.io/bank-transfer-security) - [Français](https://support.cashflow.io/fr/sécurité-des-virements-bancaires) English Show submenu for translations - [SUBMIT TICKET](https://support.cashflow.io/kb-tickets/new) - [Homepage](https://cashflow.io/) [Homepage](https://cashflow.io/) How can we help you today? - There are no suggestions because the search field is empty. 1. [Knowledge Base](https://support.cashflow.io/?hsLang=en) 2. [Security](https://support.cashflow.io/security?hsLang=en) # Bank Transfer Security **What Is an Electronic Funds Transfer?** An EFT payment, put simply, is a way to send or receive money between bank accounts without the need for paper checks or cash. They encompass a wide variety of transactions and may also be called electronic payments or e-checks. They do not include accounts for loans or credit; EFTs refer to moving money between deposit accounts like checking or savings. Some EFTs happen nearly instantly, such as when you're sending money with a peer-to-peer (P2P) payment app, or if you're paying with a digital wallet on a mobile phone. Traditional EFTs—such as when you submit payment for a bill—can take between one and three business days to process. They're especially more secure and faster than their predecessor, the paper check, which can take a couple days to clear. One of the best features of the EFT is its security. While transmitting over the internet involves risk, EFT is generally considered a safer payment method than a traditional paper check. When it comes to EFT security, think of it as the vault that guards your financial treasures. Here's a rundown of the security features you'll often find in an EFT service providers arsenal: - **Encryption:** Cashflow.io uses state-of-the-art cryptographic algorithms during data transmission (HTTPS with RSA 2048 bit key and SHA 256 certificate) and in our databases (AES 256 encryption keys). - **Multi-Factor Authentication (MFA):** All platform users must login using a two factor authentication (2FA) and sending payments are secured by password restrictions. - **Fraud Detection:** Our bank transfer partners use state-of-the-art fraud detection software with escalated alerts to human risk managers. - **Secure Protocols:** EFT services follow stringent protocols and compliance standards, such as SOC 2 and ISO 27001. - [News & Updates](https://support.cashflow.io/news-updates?hsLang=en#main-content) - [Feature Releases](https://support.cashflow.io/news-updates?hsLang=en#feature-releases) - [Improvements](https://support.cashflow.io/news-updates?hsLang=en#improvements) - [Getting Started](https://support.cashflow.io/getting-started?hsLang=en#main-content) - [Videos](https://support.cashflow.io/getting-started?hsLang=en#videos) - [Quick Guides](https://support.cashflow.io/getting-started?hsLang=en#quick-guides) - [Account Management](https://support.cashflow.io/account-management?hsLang=en#main-content) - [Account Settings](https://support.cashflow.io/account-management?hsLang=en#account-settings) - [Membership](https://support.cashflow.io/account-management?hsLang=en#membership) - [User Management](https://support.cashflow.io/account-management?hsLang=en#user-management) - [My Profile](https://support.cashflow.io/account-management?hsLang=en#my-profile) - [Contacts](https://support.cashflow.io/account-management?hsLang=en#contacts) - [Receivables](https://support.cashflow.io/receivables?hsLang=en#main-content) - [Manual Payment](https://support.cashflow.io/receivables?hsLang=en#manual-payment) - [Payment Request](https://support.cashflow.io/receivables?hsLang=en#payment-request) - [Receivables History](https://support.cashflow.io/receivables?hsLang=en#receivables-history) - [PayLink](https://support.cashflow.io/receivables?hsLang=en#paylink) - [Recurring Payments](https://support.cashflow.io/receivables?hsLang=en#recurring-payments) - [Payables](https://support.cashflow.io/payables?hsLang=en#main-content) - [Domestic Payments](https://support.cashflow.io/payables?hsLang=en#domestic-payments) - [Cross Border Payments](https://support.cashflow.io/payables?hsLang=en#cross-border-payments) - [Integrations](https://support.cashflow.io/integrations?hsLang=en#main-content) - [QuickBooks](https://support.cashflow.io/integrations?hsLang=en#quickbooks) - [Bring Your Own Payments (BYOP)](https://support.cashflow.io/bring-your-own-payments-byop?hsLang=en) - [eQuote](https://support.cashflow.io/equote?hsLang=en#main-content) - [Managing eQuotes](https://support.cashflow.io/equote?hsLang=en#managing-equotes) - [Customization & Templates](https://support.cashflow.io/equote?hsLang=en#customization-templates) - [Security](https://support.cashflow.io/security?hsLang=en) - [Partners](https://support.cashflow.io/partners?hsLang=en#main-content) - [Partner Setup and Operations](https://support.cashflow.io/partners?hsLang=en#partner-setup-and-operations) - [Merchant Referrals](https://support.cashflow.io/partners?hsLang=en#merchant-referrals) - [FAQ](https://support.cashflow.io/faq?hsLang=en) [![Chill listening crop-3](https://support.cashflow.io/hs-fs/hubfs/cropped-favicon-32x32-2.png?width=24&height=24&name=cropped-favicon-32x32-2.png "Chill listening crop-3")](https://cashflow.io) Cashflow.io - Support Center Copyright © 2025, Cashflow.io