An electronic funds transfer (EFT) pays your bill automatically by transferring money from your credit card, checking account, or savings account directly to your. The Easy Way to Pay Insurance Premiums. EFT (Electronic Funds Transfer) is a safe, easy and convenient way to pay your monthly insurance premiums. Enrolling in both ERA and EFT can help expedite the delivery of your payments. Learn about Aetna's ERA, EFT and electronic EOBs tools that help you save time and money.