Payables and Cash Management - EBS (MOSC)

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ACH vs EFT in US

in Payables and Cash Management - EBS (MOSC) Question

Hi there,

            My understanding is that for payments made using ACH, file is sent to a financial institution which may not be a bank and for EFT file is necessarily set to a bank.

And ACH is generic like NACHA but EFT is bank specific.

Qs

1. Is above understanding correct ?

2. If so, then whats the advantage of each above other, given that both are batch based unlike wire ?

3.Is the seeded NACHA format fine for ACH payment without any change ?

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