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

This electronic payment method is integral to modern life, supporting everything from online shopping to managing recurring bills through direct debit agreements. Mobile fund transfers: Thanks to the introduction of smartphones, mobile fund transfers have become increasingly prominent.

Funds Transfer 52

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

Payment Savvy

NOVEMBER 9, 2022

Wire Transfer. A wire transfer may be the best option if you need to send or receive a large sum of money quickly. A wire transfer is an EFT payment method made through the SWIFT network. Wire transfers are secure and fast, but there are fees involved that make them unsuitable for small payments.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98

Stax

JULY 9, 2024

ACH payments use sender and recipient banking account information to process transactions in one-to-three business days through the ACH network and have a lower cost than wire transfers (another EFT payment type). 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