Unauthorized electronic funds transfer means a “funds transfer” from an “insured’s” “account” initiated by a person other than the “insured” without the actual authority to initiate the transfer and from which the “insured” receives no benefit. An “unauthorized electronic funds transfer” also includes a “funds transfer” that consists of a tax refund obtained or secured by the filing of a fraudulent tax return with the
Unauthorized electronic funds transfer means: Any transfer of funds that are 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 Subscriber’s account. Unauthorized Electronic Fund Transfer includes, but is not limited to, (i) point-of-sale transfers; (ii) automated teller machine transfers; (iii) direct deposits or withdrawals of funds; (iv) transfers initiated by phone; (v) transfers resulting from debit card transactions, whether or not initiated through an electronic terminal.
Unauthorized electronic funds transfer means an electronic funds transfer from a consumer’s account initiated by a person other than the consumer without actual authority to initiate such transfer and from which the consumer receives no benefit, but does not include any electronic funds transfer–
Examples of Unauthorized electronic funds transfer in a sentence
Unauthorized electronic funds transfer - an electronic funds transfer from your Account initiated by a person other than you without actual authority to initiate the transfer and from which you receive no benefit.
More Definitions of Unauthorized electronic funds transfer
Unauthorized electronic funds transfer means an electronic funds transfer from a consumer’s account initiated by a person other than the consumer without actual authority to initiate the transfer and from which the consumer receives no benefit. The term does not include an electronic funds transfer initiated by a person who was furnished with the access device to the consumer’s account by the consumer, unless the consumer has notified the Bank that transfers by that person are no longer authorized or the transfer was initiated with fraudulent intent by the consumer or any person acting in concert with the consumer. If your MainStreet Bank Online Banking Password has been compromised and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your MainStreet Bank Online Banking Password without your permission to access a Bank deposit account. If you do NOT tell us within 2 business days after you learn of the loss or theft and we could have stopped someone from taking money without your permission had you told us, you could lose as much as $500.00. If your statement shows withdrawals, transfers or purchases that you did not make or authorize, please notify us at once. If you do not notify us within 60 days after the paper or online statement was sent to you, and we could have stopped someone from taking money if you had told us in a timely manner, you may not get back any money lost after the 60 days. If extenuating circumstances, such as long trip or hospital stay, kept you from telling us, the time periods in this section will be extended.
Unauthorized electronic funds transfer means an electronic funds transfer from my account initiated by a person other than an account owner, without actual