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 92

Disputes Laws Rules Government 92

Stax

JULY 9, 2024

Regulatory and Compliance Issues with EFT Payments Regulatory and compliance issues surrounding EFT payments are critical for ensuring the security and integrity of electronic transactions. EFT payments have been around for many decades and have federal laws to protect the electronic transfer of funds.

Electronic Fund Transfer Act (EFTA) 88

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

Stax

NOVEMBER 11, 2024

NACHA Rules and Requirements T he National Automated Clearing House Association (NACHA) is the primary organization overseeing the ACH network. Compliance with NACHA’s rules is crucial for businesses to maintain access to the ACH network, and failure to comply can lead to fines or loss of ACH privileges.

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.

Regulations 105

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