EFTA (Electronic Fund Transfer Act)

EFTA (Electronic Fund Transfer Act)

The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

Related Terms

  • CCD (Corporate Credit or Debit)

    A CCD entry is a credit or debit entry where funds are being transferred between two corporate entities.

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  • On-Us Entry

    Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

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