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While EFTs offer a straightforward and low-cost solution for money transfers, credit card payments provide flexibility and additional consumer benefits, albeit at a higher cost and with greater financial management considerations. EFT payments have been around for many decades and have federal laws to protect the electronictransfer of funds.
Key Payment Regulations in The USA ElectronicFundTransferAct (EFTA): Enacted in 1978, the EFTA establishes the rights, liabilities, and responsibilities of consumers and financial institutions engaged in electronicfundtransfers (EFTs).
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