Advantages of using the Electronic Fund Transfer:

It is easy and convenient.

It is fast and secure.
It is efficient and less expensive than paper cheque payments and collections.
Disadvantages of using the Electronic Fund Transfer:
If you enter the target account number incorrectly, there is no way to reverse the
transaction since the bank would process the transaction under the belief that the
information you provided is accurate.
Once an amount is transferred, the bank cannot reverse a transaction.