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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.
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Remote Deposit
Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.
Related Terms
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On-Us Entry
Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.
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