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

  • RDFI (Receiving Depository Financial Institutions)

    A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.

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  • VAR Sheet

    A VAR Sheet is a file containing information, such as merchant account information, bank account information, processor information, etc. This file is typically given to a payment...

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