Electronic Fund Transfer definition

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 Fund Transfer means the electronic method of disbursing proceeds of an Education Loan on behalf of an Eligible Student as set forth in an agreement entered into by the Authority, acting by its duly authorized officer, the Servicer and the Trustee.

Electronic Fund Transfer. (or "EFT") is a transfer of funds initiated through an electronic terminal, computer or Mobile Device for the purpose of authorizing the Bank to debit or credit your checking or savings account.

Examples of Electronic Fund Transfer in a sentence

• The COE may deduct any sum due to it by the Bidder under any of the provisions of this contract from any sum due to the Bidder.All payments to bidders will only be made by means of Electronic Fund Transfer (EFT).

• If the discrepancy noted is the result of an electronic fund transfer, then the provisions of Our Electronic Fund Transfer Agreement with You will control resolution of the matter.

• Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (aaa) cash; (bbb) money order; (ccc) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (ddd) Electronic Fund Transfer.

• The County of Orange offers Contractors the option of receiving payment directly to their bank account via an Electronic Fund Transfer (EFT) process in lieu of a check payment.

• I/We understand that the credit transfers hereby authorised will be processed by computer through a system known as the “ACB Electronic Fund Transfer Service” and I/We also understand that no additional advice of payment will be provided by my/our bank, but details of each payment will be printed on my/our bank statement or any accompanying voucher.

More Definitions of Electronic Fund Transfer

Electronic Fund Transfer means any transfer of funds, other than

Electronic Fund Transfer means the electronic movement of funds from the City’s main bank account to the different suppliers’ bank accounts in the same or different banks, through the use of wire transfer, automatic teller machines or computers but without the use of paper documents.

Electronic Fund Transfer or “EFT” 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, or computer or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account.” 15 U.S.C. § 1693a(7).

Electronic Fund Transfer means any mode of electronic fund transfer recognized by RBI including but not limited to RTGS, NEFT and fund transfer from and to accounts of the same bank.

Electronic Fund Transfer means any form of transfer of funds by electronic means other than inter-bank GIRO or telegraphic transfer;

Electronic Fund Transfer means any transfer of funds, other than a transaction originated by cheque, draft or similar paper instrument, which is initiated through an Electronic Terminal, telephonic instrument, point-of -sale Terminal, stored value card Terminal, debit card, ATM, computer magnetic tape or any other electronic device so as to order, instruct, or authorize a Financial Institution or any other company or person to debit or credit an Account;

Electronic Fund Transfer means bank transfer (e.g. credit transfer, debit transfer), payment card (debit card, credit card and charge card), electronic money (e-money), privately-issued digital assets (e.g. crypto- assets, stablecoins) and Central bank digital currency (CBDC).