EFTA (Electronic Fund Transfer Act)

The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

Related Terms

  • Consumer Account

    An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

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  • PBR (Consumer Cross-Border Payment)

    A PBR entry is a debit or a credit entry to or from the account of a consumer where the participants are in two different countries.

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