Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

Funds transfer means the series of transactions, beginning with the originator’s payment order, made for the purpose of mak- ing payment to the beneficiary of the order. The term includes any payment order issued by the originator’s bank or an intermediary bank intended to carry out the originator’s payment order. A funds transfer is completed by acceptance by the beneficiary’s bank of a payment order for the benefit of the bene- ficiary of the originator’s payment order.

Funds transfer or “Transfer” means a transfer of funds, initiated through Online Banking Service, from one eligible account to another.

Examples of Funds transfer in a sentence

As a condition precedent to coverage under this Insuring Clause 11, the Voice Initiated Funds Transfer Instruction must be received and processed in accordance with the Designated Procedures as outlined in the Application furnished to the Company.
V.25 CONTRACT-016.2 Payment – Electronic Funds Transfer (February 2014) a.
The City’s preferred method of payment is by ePayables (Payment Plus), followed by credit card (aka procurement card), then Electronic Funds Transfer (EFT) by Automated Clearing House (ACH), then check or other cash equivalent.
Contractors will have a choice of receiving electronic payment for all other payments by selecting the Electronic Funds Transfer (EFT).
FEMA uses the Direct Deposit/Electronic Funds Transfer (DD/EFT) method of payment to recipients.

More Definitions of Funds transfer

Funds transfer means the series of transactions, beginning with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order.

Funds transfer means any transaction carried out on behalf of an originator through a financial institution by electronic means with a view to making an amount of money available to a beneficiary person at another financial institution (the originator and beneficiary may be the same person);

Funds transfer means a transfer of funds from one account to another, either yours or a third party whether both accounts are held at Suncorp or one account is held at another financial institution external to Suncorp.

Funds transfer. Means the allocation of funds from one accessible Account to another accessible Account.

Funds transfer means a transfer of funds, including one initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing or authorizing a “financial institution” to debit or credit an “insured’s” “account”. “Funds transfer” includes, but is not limited to, point-of-sale transfers, automated teller machine transfers, direct deposits or withdrawals of funds, transfers initiated by telephone, and transfers resulting from debit or credit card transactions, whether or not initiated through an electronic terminal.

Funds transfer means the movement of funds from the Customer’s Account using Instructions or any Banking Services to other Account(s) or to a third party account within UAE or outside UAE.

Funds transfer means a transfer to or from your Account which is (i) governed by Article 4A, and (ii) made by telephone, wire, automated clearing house transfer, computer instructions or written instructions other than a check.