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Follow up question: What's the difference between online bill pay and EFT?

Asked by janbb (51211points) August 4th, 2014

The impression I am getting is that in online bill pay you set up the payee’s account info but you control when the bill is actually paid. In EFT, the payee has been given the right to take a certain amount out of your checking account automatically and they then notify you. Is this correct?

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