Unauthorized electronic funds transfer definition

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
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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.
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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–
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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 my account initiated by a person other than an account owner, without actual
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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.
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Related to Unauthorized electronic funds transfer

  • 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.

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

  • 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.

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

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

  • 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.

  • Unauthorized Gas means (a) the quantity of gas taken by Customer exceeding the amount which is permitted during a Period of Interruption or (b) the difference (whether positive or negative) between the quantity of gas taken by Customer and the volumes provided for under an Operational Flow Order.

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

  • 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 Data Interchange or “EDI technology” means the computer-to-computer exchange of business transactions in a standardized, structured electronic format.

  • Approved Electronic Communication means each notice, demand, communication, information, document and other material transmitted, posted or otherwise made or communicated by e-mail, e-fax, the Pinnacle System, or any other equivalent electronic service agreed to by Agent, whether owned, operated or hosted by Agent, any Lender, any of their Affiliates or any other Person, that any party is obligated to, or otherwise chooses to, provide to Agent pursuant to this Agreement or any Other Document, including any financial statement, financial and other report, notice, request, certificate and other information material; provided that Approved Electronic Communications shall not include any notice, demand, communication, information, document or other material that Agent specifically instructs a Person to deliver in physical form.

  • Electronic Data Interchange (EDI means technology that provides transaction related details, including invoice number(s), pay dates, and other identifying information as appropriate for each transaction.

  • Electronic Record and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time.

  • 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.

  • Unauthorized alien means an alien as defined in Section 1324a(h)(3) of Title 8 of the United States Code.