EBT meaning in Banking ?

Answer:

What is Electronic Benefit Transfer mean?

Electronic benefit transfer (EBT) is an electronic system that allows state welfare departments to issue benefits via a magnetically encoded payment card used in the United States. It reached nationwide operations in 2004. The average monthly EBT payout is $125 per participant.

Common benefits provided via EBT are typically of two general categories: food and cash benefits. Food benefits are federally authorized benefits that can be used only to purchase food and non-alcoholic beverages. Food benefits are distributed through the Supplemental Nutrition Assistance Program (SNAP), formerly the Food Stamp Program. Cash benefits include state general assistance, Temporary Assistance for Needy Families (TANF) benefits and refugee benefits.

reference

Full Form	Category
Electronic Beginning Transaction	Academic & Science
English, Business, and Technical	Academic & Science
Electronics Benefit Transfer	Academic & Science
Electronic Belated Transfer	Academic & Science
Electronic Balance Transfer	Academic & Science
Earnings Before Taxes	Accounts and Finance
Electronic Bank Transfer	Accounts and Finance
Electronic Benefit Transfer	Banking
Electronic Bankng Transaction	Banking
Electronic Benefits Transfer	Business
Ebet Ltd	Business
Employee Benefit Trust	Business
Electronic Banking Transaction	Business
Earnings Before Tax	Business
Eriochrome Black T Indicator	Chemistry
Evidential Breath Testing	Community
Elegance, Beauty, and Tradition	Community
Ethercard Boot	Computing
Enhanced Bandwidth Technology	Computing
Electronic Based Technology	Computing
Eastern Broadband Telecom	Computing
Enhanced Biofuels and Technologies	General
Extradimensional Blue Thing	General
East Broad Top	General
Emotional Brain Training	General
Every Body Tricking	General
Examination Before Trial	General
Eat Before This	General
Eccentric Bottom Tapping	General
Euro Bill Tracker	General
Eberl, Blum, and Tirbak	Governmental
Emergency Blood Technician	Medical
Electron Beam Tomography	Medical
External Beam Therapy	Medical
Evidence Based Training	Softwares
European Bowling Tour	Sports