Finextra

JUNE 2, 2024

A legal case involving how Citi responded to customers who had money stolen via wire transfers has caused a spat between the CFPB and industry associations over the scope of the Electronic Fund Transfer Act (EFTA).

Electronic Fund Transfer Act (EFTA) 64

Electronic Fund Transfer Act (EFTA) CFPB Wire Transfer Disputes 64

EBizCharge

JUNE 3, 2024

With the introduction of electronic funds transfers (EFTs), gone are the days of paper checks and manual money handling. What is an electronic funds transfer (EFT)? An electronic funds transfer , or EFT, is a core pillar of modern banking and transactions.

Funds Transfer 52

Funds Transfer Electronic Fund Transfer Act (EFTA) Electronic Funds Transfer (EFT) Wire Transfer 52

Stax

JULY 9, 2024

More and more, cash-only businesses are falling by the wayside, unable to keep up with consumer demand for convenient electronic payments. The world of Electronic Funds Transfer (EFT) payments is vast, spanning just about every payment method you can think of. What is an Electronic Funds Transfer (EFT) Payment?

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

PYMNTS

APRIL 13, 2020

In some of those cases, the faster option might be a fresh prepaid account through which the intended funds can be disbursed. However, the Electronic Fund Transfer Act (EFTA) prevents that from happening, not letting banks require people to sign up for accounts just to receive government benefits.

Electronic Fund Transfer Act (EFTA) 111

Electronic Fund Transfer Act (EFTA) CFPB Consumer Financial Protection Bureau (CFPB) Direct Deposit 111

Stax

NOVEMBER 11, 2024

ACH payments are consistently ranked as one of the safest payment methods a business can accept, and are regulated by the Federal Reserve Bank and Electronic Fund Transfer Act. For any business looking to implement ACH transfers as an accepted form of payment, it’s important to communicate how easy it is to set up.

ACH 88

ACH Checks Identity Theft Payments 88

Fi911

JANUARY 4, 2024

The Electronic Fund Transfer Act (EFTA) Enacted in 1978, EFTA regulates bank responses to consumer complaints and sets liability limits for lost or stolen debit cards. It was a response to emerging technologies like ATMs, electronic POS terminals, and remote banking.

Disputes 92

Disputes Laws Rules Government 92

Payment Savvy

NOVEMBER 9, 2022

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. The history of electronic funds transfers begins in the 1960s, with the advent of ATMs.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98