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

  • Lockbox

    Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...

    Learn More

  • SSL (Secure Sockets Layer)

    SSL, proceeded by TLS, is a security protocol that encrypts data and enabled authentication between applications over a network.

    Learn More