EFT Batch

An EFT Batch (Electronic Funds Transfer Batch) is a grouped set of electronic payment transactions processed together through a bank or payment system. Nonprofits often use EFT batches to pay vendors, staff, or disburse grants, streamlining multiple transfers into one efficient process. Each batch contains detailed records of individual payments, ensuring accuracy and traceability. This process saves time, reduces administrative errors, and can lower transaction costs compared to handling payments individually. EFT batches are particularly valuable for organizations managing recurring payments, payroll, or mass disbursements, as they automate and simplify financial workflows while ensuring compliance with accounting standards.