EFT Transactions definition

EFT Transactions means a transfer of funds initiated by an instruction you give to us through Electronic Equipment using an Access Method to debit or credit an EFT Account. An EFT Transaction includes, without limitation, a transaction undertaken using a Card and an Access Code via EFTPOS or an ATM or a transaction undertaken using Internet or Phone Banking.

Examples of EFT Transactions in a sentence

• Section H: EFT Transactions – PIN, Password and/or Access Number Generated TransactionsWe warrant that we will comply with the requirements of the ePayments Code.

• The time frame for disputing a transaction may not apply to reporting unauthorised EFT Transactions covered by the ePayments Code.

• We will debit the value of all withdrawal EFT Transactions and credit the value of all deposit EFT Transactions to or from your Account in accordance with your instructions when the appropriate Access Method is used.

• In some circumstances, you may be liable for a greater amount of unauthorised EFT Transactions by use of a Password.

• You must confirm in writing any notice you give us by telephone (a failure to do so will not affect your liability for unauthorised EFT Transactions however it will help us to effectively deal with your report).

• There is no fee for debit transactions through merchants accepting Visa.Documentation of EFT Transactions You will receive a receipt at the time you make any transfer from your share draft account using the Visa Check Card.You will receive a monthly statement from us on your share draft account.Liability For Failure to Make Transfer If we do not complete a transfer from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages.

• You are liable for losses from unauthorised EFT Transactions that occur because you, or someone authorised by you, leaves your Card in an ATM provided that the ATM incorporates reasonable safety standards that mitigate the risk of unauthorised Cards being left in the ATM.

• We limit the amount of EFT Transactions you may make during any one Day or other period, either generally or in relation to a particular Access Method or particular types of EFT Transactions.

• Fees and Charges: We do not charge for any preauthorized EFTs. Other EFT Transactions.

• We will advise you from time to time: • what EFT Transactions may be performed using a rediCARD, Visa Card and/or Contactless Enabled Mobile Device; • what EFT Terminals of other financial institutions may be used; and • what the daily cash withdrawal limits are.