Electronic Funds Transfer definition

Electronic Funds 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, wire transfers, and automated clearinghouse transfers.
Electronic Funds Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephonic instrument, modem, computer, or magnetic tape, so as to order, instruct, or authorize a financial institution to credit or debit an account.
Electronic Funds Transfer means an electronic transmission of funds conducted by and received at a financial institution or a financial entity headquartered in and operating in a country that is a member of the Financial Action Task Force, where neither the sending nor the receiving account holders handle or transfer the funds, and where the transmission record contains a reference number, the date, transfer amount, currency and the names of the sending and receiving account holders and the conducting and receiving entities.

Examples of Electronic Funds Transfer in a sentence

  • The Offeror also shall enter its Electronic Funds Transfer (EFT) indicator, if applicable.

  • If you wish to sign up for Electronic Funds Transfer (EFT), you may follow the instructions on your monthly bill, or you may call Customer Service.

  • The State will only disburse payments under this Contract through Electronic Funds Transfer (EFT).

  • For the purpose of earning the discount, payment is deemed to be made as of the date of mailing of the County check or issuance of an Electronic Funds Transfer, or completion of a credit card transaction.

  • We hereby agree to receive the payments due from BHARAT HEAVY ELECTRICALS LIMITED, RANIPET by the National Electronic Funds Transfer and/or RTGS Transfer mode by credit to my / our above mentioned Bank Account.


More Definitions of Electronic Funds Transfer

Electronic Funds Transfer means a remote electronic transmission used for ordering, instructing, or authorizing a financial institution to pay money to or credit the account of the payee and debit the account of the payer. The remote electronic transmission may be initiated by telephone, terminal, computer, or similar device.
Electronic Funds Transfer means any transfer of funds, other than a trans- action originated by cash, check, or Fiscal Service, Treasury § 208.2 similar paper instrument, that is initi- ated through an electronic terminal, telephone, computer, or magnetic tape, for the purpose of ordering, instruct- ing, or authorizing a financial institu- tion to debit or credit an account. The term includes, but is not limited to, Automated Clearing House transfers, Fedwire transfers, and transfers made at automated teller machines and point-of-sale terminals. For purposes of this part only, the term electronic funds transfer includes a credit card transaction.
Electronic Funds Transfer means the same as defined in section 203.1.
Electronic Funds Transfer means any transfer of funds, other
Electronic Funds Transfer or "EFT" means any transfer of funds initiated through an electronic terminal, telephonic instrument, or computer (online) so as to order, instruct, or authorize a financial institution to debit or credit an account using the methods specified in the rules in this Section.
Electronic Funds Transfer means the movement of funds from the Cardholder’s Card Account using instructions or any banking services provided by RAKBANK to a third party account within the UAE or outside UAE.
Electronic Funds Transfer means any funds transfer initiated by an electronic instruction, including, without limitation, any funds transfer via the Automated Clearing House system, any wire transfer via the Federal Reserve System and any funds transfer recorded on the books and records of the banking institution maintaining the relevant accounts.