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

Fi911

JANUARY 4, 2024

We’re going to break down some of the most important chargeback rules, including fees, time limits, and reason codes. Certain regulations known as “chargeback rules” are, in fact, based on legal statutes. It was a response to emerging technologies like ATMs, electronic POS terminals, and remote banking.

Disputes 99

Disputes Laws Rules Governance 99

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

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

Stax

SEPTEMBER 24, 2024

They’re also subject to different rules and regulations. It’s meant to incentivize customers to pay using cash and reduce the costs associated with accepting electronic payment methods. The rule of thumb is to psychologically offer a noticeable benefit. The receipt should indicate the base amount, cash discount, and total sale.

Credit Cards 88

Credit Cards Electronic Fund Transfer Act (EFTA) Push-to-Card Debit Card 88

Clearly Payments

FEBRUARY 8, 2024

Moreover, by establishing rules for payment networks and financial institutions, regulation mitigates systemic risks and fosters fair competition, thereby enhancing market efficiency. They establish rules, standards, and fees for participating financial institutions and merchants. It promotes fair access to credit for all consumers.

Regulations 105

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105