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.

Examples of Electronic Fund Transfer in a sentence

  • 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.EFFECT OF AGREEMENT.

  • Listed companies are required to use the Reserve Bank of India’s approved electronic mode of payment such as National Automated Clearing House (NACH), National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) for making payments like dividend to the shareholders, in terms of Schedule I of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR).

  • Payment to those shareholders whose share certificates and/or other documents are found valid and in order will be by way of a crossed account payee cheque/demand draft/pay order or through Direct Credit (DC), National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), National Electronic Clearing Service (NECS), at specified centre where clearinghouses are managed by the RBI within 10 days from the date of closure of Offer i.e., 17th January, 2013.

  • Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (aaa) cash; (bbb) money order; (ccc) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (ddd) Electronic Fund Transfer.

  • EMD (Bid Security) and Tender processing fee should be paid through e-payments, credit card, direct debit (internet banking) or NEFT (National Electronic Fund Transfer).


More Definitions of Electronic Fund Transfer

Electronic Fund Transfer means the electronic movement of funds from the City’s main bank account to the different suppliersbank 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.
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;
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.
Electronic Fund Transfer means any transfer of funds, other than
Electronic Fund Transfer means any form of transfer of funds by electronic means other than inter-bank GIRO or telegraphic transfer;
Electronic Fund Transfer means any transfer of funds that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing or authorizing a Bank to debit or credit an Insured’s Account. Electronic fund transfer includes but is not limited to:
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, or computer or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account.