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

  • Effective Rate

    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

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  • Interchange

    Interchange is a small fee paid by a merchant's bank (acquirer) to a cardholder's bank (issuer) to compensate the issuer for the value and benefits that merchants...

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