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

  • Remote Deposit

    Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

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  • WEB (Internet Initiated Entries)

    A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

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