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Electronic Fund Transfer definition

Electronic Fund Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone or other electronic device capable of communicating with such financial institution, wire transfers, and automated clearinghouse transfers.
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Electronic Fund Transfer means the electronic method of disbursing proceeds of an Education Loan on behalf of an Eligible Student as set forth in an agreement entered into by the Authority, acting by its duly authorized officer, the Servicer and the Trustee.
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Electronic Fund Transfer. (EFT) means a transfer of funds by electronic means. The term EFT includes all Point-of-Sale transfers, ATM transfers (deposits and withdrawals), direct deposits, electronic payments, transfers initiated by telephone, by a computer terminal (“Web Banking”), wire transfers and transfers conducted over an Automated Clearing House network (“ACH”). • “PIN” refers to the personal identification number you chose to use to identify yourself when using your card.
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Examples of Electronic Fund Transfer in a sentence

  • You must notify us at once of any unauthorized or erroneous electronic transactions not subject to the Electronic Fund Transfer Act or Regulation E shown on your statement or a notice.

  • We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by Commonwealth of Virginia law as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account.

  • We may accept on your behalf payment to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the State of Washington as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transaction involving your account.

  • Transactions not Subject to Electronic Fund Transfer Act or Regulation E‌ Electronic transfers made from an account used for business purposes, regardless of account ownership, are not subject to the Electronic Funds Transfer Act, Regulation E or to the error resolution procedures set forth herein.

  • In the event a use of Your PIN constitutes an Electronic Fund Transfer, the terms and conditions of Your Electronic Fund Transfer Agreement may also affect Your rights.


More Definitions of Electronic Fund Transfer

Electronic Fund Transfer means any transfer of funds, other than
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Electronic Fund Transfer or “EFT” means “any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, or computer or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account.” 15 U.S.C. § 1693a(7).
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Electronic Fund Transfer means the electronic movement of funds from the City’s main bank account to the different suppliers’ bank accounts in the same or different banks, through the use of wire transfer, automatic teller machines or computers but without the use of paper documents.
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Electronic Fund Transfer means any mode of electronic fund transfer recognized by RBI including but not limited to RTGS, NEFT and fund transfer from and to accounts of the same bank.
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Electronic Fund Transfer means any form of transfer of funds by electronic means other than inter-bank GIRO or telegraphic transfer;
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Electronic Fund Transfer means any transfer of funds, other than a transaction originated by cheque, draft or similar paper instrument, which is initiated through an Electronic Terminal, telephonic instrument, point-of -sale Terminal, stored value card Terminal, debit card, ATM, computer magnetic tape or any other electronic device so as to order, instruct, or authorize a Financial Institution or any other company or person to debit or credit an Account;
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Electronic Fund Transfer. ’ means a transfer of funds from one bank account to another by electronic means;
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