Electronic Funds Transfer Systems definition

Electronic Funds Transfer Systems means those systems which operate automated teller machines or point of sale terminals and include any shared networks or facilities for said system in which the Insured participates.
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Electronic Funds Transfer Systems means those systems which operate
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Examples of Electronic Funds Transfer Systems in a sentence

  • But with the advent of technology, new payment systems such as MICR clearing, Electronic Funds Transfer Systems, cash-based payment systems, RTGS (real time gross settlement) etc.

  • Department of Treasury, Financial Crimes Enforcement Network, Key Electronic Funds Transfer Systems Fedwire, CHIPS, SWIFT Report OSA 92 CBO012 (Vienna, VA September 1992) CHIPS or Fedwire from Bank 1 to the Federal Re- serve Bank (FRB) in its District, which will move the funds from the account of Bank 1 into the ac- count of Bank 2.

  • The various retail payment systems in operation include the manual paper based clearing, MICR Clearing, Electronic Funds Transfer Systems (including the Electronic Clearing Services), Card Based Payment Systems, Government Securities Clearing, Forex Clearing, etc.

  • Payment will be made by electronic funds transfer (EFT) in accordance with Federal Acquisition Regulation (FAR) clause 52.232-33, Payment by Electronic Funds Transfer- Systems for Award Management.

  • The State Treasurer may make periodic payroll payments by Electronic Funds Transfer Systems when requested by the payee.

  • Weber, A Public Policy Overview of Electronic Funds Transfer Systems, 25 Cath.

  • Similarly, in Zimbabwe, the first appearance of electronic banking was in 1990, when Standard Chartered Bank installed ATMs. This gave rise to a sequence of service deliveries in Zimbabwean banks, such as Electronic Funds Transfer Systems, telephone banking, and recently, Internet banking services (Thulani et al., 2009).Popola (2013) informs us that Nigeria’s first bank, the African Banking Corporation, was established in 1892.

  • We now turn to cases of contrived ignorance that are not culpable or are less culpable.

  • A user of hunting rights shall be liable for the losses caused by game animals, unless otherwise provided for in the agreement regarding the transferring of hunting rights.

  • Technology in commercial banking comes in the form of Automatic/Electronic Networks and Electronic Funds Transfer Systems (EFTs).

Related to Electronic Funds Transfer Systems

  • 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.

  • Funds-transfer system means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • 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.

  • Electronic Interface means access to operations support systems consisting of preordering, ordering, provisioning, maintenance and repair and billing functions.

  • Electronic File Transfer means any system or process that utilizes an electronic format and protocol to send or receive data files.

  • Electronic System means any electronic system, including e-mail, e-fax, Intralinks®, ClearPar®, Debt Domain, Syndtrak and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent and the Issuing Bank and any of its respective Related Parties or any other Person, providing for access to data protected by passcodes or other security system.

  • Electronic Notice shall be deemed written notice for purposes of this Section 13 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

  • Electronic toll collection system means a system of collecting tolls or charges which is capable of charging an account holder the appropriate toll or charge by transmission of information from an electronic device on a motor vehicle to the toll lane, which information is used to charge the account the appropriate toll or charge.

  • Electronic means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

  • Electronic File means any text, illustration or other matter supplied or produced by either Party in digitised form on disc, through a modem, or by ISDN or any other communication link.

  • Electronic Control System means a combination of units, designed to co-operate in the production of the stated vehicle control function by electronic data processing. Such systems, often controlled by software, are built from discrete functional components such as sensors, electronic control units and actuators and connected by transmission links. They may include mechanical, electro-pneumatic or electro-hydraulic elements.

  • Electronic filing system means the system used by the board's records and information center to accept and publish documents filed electronically and which allows the public and parties to view most documents filed with or issued by the board on the board's Web site.

  • Electronic monitoring means tracking the location of an

  • Electronic Subcontracting Reporting System (eSRS) means the Governmentwide, electronic, web-based system for small business subcontracting program reporting. The eSRS is located at http://www.esrs.gov.

  • Electronic Record(s means the electronic record as defined under clause (t) of subsection (1) of section 2 of the Information Technology Act, 2000.

  • Electronic Communication Network means the transmission line connecting the data transmission place and the data receiving place.

  • Electronic Equipment means the items as specified in the Schedule and which are contained or fixed at or in the Insured Premises.

  • Electronic Version/Copy means a digital form consisting of text, images or both readable on computers or other electronic devices that includes all content that the Original and Hard Copy proposals contain. The digital form may be submitted using a compact disc (cd) or USB flash drive. The electronic version/copy can NOT be emailed.

  • Electronic Services means a service provided by us, for example an Internet trading service offering clients access to information and trading facilities, via an internet service, a WAP service and/or an electronic order routing system.

  • electronic auction means an iterative process that involves the use of electronic means for the presentation by suppliers of either new prices, or new values for quantifiable non-price elements of the tender related to the evaluation criteria, or both, resulting in a ranking or re-ranking of tenders;

  • Electronic communications system means any wire, radio, electromagnetic, photooptical or photoelectronic facilities for the transmission of wire or electronic communications, and any computer facilities or related electronic equipment for the electronic storage of such communications;

  • Electronic Waste means a: computer; computer monitor; computer peripheral device containing a cathode ray tube; printer; or television sold to a covered entity. “Electronic waste” does not include: any motor vehicle or any part thereof; a camera or video camera; a portable or stationary radio; a wireless telephone; a household appliance, such as a clothes washer, clothes dryer, water heater, refrigerator, freezer, microwave oven, oven, range, or dishwasher; equipment that is functionally or physically part of a larger piece of equipment intended for use in an industrial, research and development, or commercial setting; security or antiterrorism equipment; monitoring and control instruments or systems; thermostats; handheld transceivers; a telephone of any type; a portable digital assistant or similar device; a calculator; a global positioning system receiver or similar navigation device; commercial medical equipment that contains a cathode ray tube, a cathode ray tube device, a flat panel display, or similar video display that is not separate from the larger piece of equipment; or other medical devices, as the term “device” is defined under 21 U.S.C. § 321(h) of the Federal Food, Drug, and Cosmetic Act, as that section is amended from time to time.

  • Electronic communication service means a custodian that provides to a user the ability to send or receive an electronic communication.

  • Electronic voting system means a secured system based process of display of electronic ballots, recording of votes of the Members and the number of votes polled in favour or against, in such a manner that the entire voting exercised by way of electronic means gets registered and counted in an electronic registry in a centralised server with adequate cyber security.

  • Electronic Payment System means a payment system that generates any transfer of funds, other than a transaction originated by cash, check, or similar paper instrument, which is initiated through an electronic terminal, telephone, mobile phone, computer, or magnetic tape, for the purpose of ordering, instructing or authorizing a financial institution to debit or credit an account. The term includes debit cards, wire transfers, transfers made at automatic teller machines, and point-of-sale terminals.