Electronic funds transfer system definition

Electronic funds transfer system means the electronic system which is used to process transactions initiated at a satellite terminal and includes the access device, the satellite terminal, the cardholder financial institution and its data processing center, the establishing financial institution and its data processing center, and a central routing unit.

Electronic funds transfer system means a technical procedure

Electronic funds transfer system means a technical procedure by which obligations owed to or collected by the Supreme Court, the Superior Court, Tax Court or a local unit may be paid by an electronic transaction between the financial institution of the person or organization owing the obligation and the financial institution of the governmental entity.

Examples of Electronic funds transfer system in a sentence

• Electronic funds transfer system" (EFTS) means a computer payment system for transferring funds from one party to another.[PL 1975, c.

• Despite auditors’ ability to make such improvements in financial statements, still cases are observed where the auditors missed material errors, so let’s consider what could have gone wrong.

• ACH (Automated Clearing House) - Electronic funds transfer system governed by the NACHA OPERATING RULES which provide for the interbank clearing of electronic payments for participating depository financial institutions.

• Electronic funds transfer system was decomposed into customer payment system which concentrates on customer payments and banking payment system which concentrates on time critical and systemically important interbank payment transactions, on December 7, 2012.i. Customer Payment System (CPS) Customer payment system which was designed for customer payments and constitutes around 98 percent of the total payments as of end-2012, came into operation on December 7, 2012.

• Funds Flow Mechanism Electronic funds transfer system is being used in the State up to CHC/PHC level.

More Definitions of Electronic funds transfer system

Electronic funds transfer system means a system which operates automated teller machines or point of sale terminals and includes any shared networks or facilities for said system in which the Proposer participates.

Electronic funds transfer system means a technical procedure by which tax obligations owed the State may be paid by an electronic transaction between the financial institution of the person or organization owing the obligation and the financial institution of the State.

Electronic funds transfer system means automated teller machines, point of sale terminals and other similar operating systems and includes any shared networks or similar facilities for such systems in which the ASSURED participates.

Electronic funds transfer system means automated teller machines, point of sale terminals, and

Electronic funds transfer system means a wire transfer network, automated clearing house (ACH), or other system or arrangement for the processing, clearing and/or settlement of electronic funds transfers;

Electronic funds transfer system means automated teller machines, point of sale terminals, and other similar operating systems and includes any shared networks, or other similar facilities for such

Electronic funds transfer system means an automated clearinghouse or other electronic communications system, including but not limited to Fedwire, Clearing House Interbank Payment System (CHIPS) and Society for Worldwide International Financial Telecommunication (SWIFT).