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What Is an EFT Payment?

Payment Savvy

An Electronic Funds Transfer (EFT) is the movement of money electronically from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. These can include using a credit or debit card, an electronic check, or an ACH (Automated Clearing House) transfer.

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Fighting Scams and Authorized Push Payment Fraud in the US

FICO

Senator Elizabeth Warren, (D-MA) pointedly asked him about the number of fraudulent transactions Chase was seeing on the P2P payment platform Zelle. Scams and P2P Payments Are Front and Center. The big question is who should be liable for losses when it comes to P2P scams, and we’re seeing two schools of thought.

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