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

  • CBR (Cross Border Payments)

    A standard entry class code used for the transmission of corporate cross border ACH credit and ACH debit entries. The CBR format accommodates the exchange of information...

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  • Contact-Free Payment

    Contact-free payments are transactions processed in a manner that removes the physical interaction between the purchaser and the merchant.  A contract-free payment can be accomplished through a...

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