Quimbee logo
DMCA.com Protection Status

Electronic Funds Transfer

Electronic Funds Transfer

Definition

The electronic transfer of money between bank accounts from an originator to a beneficiary, either directly or through a series of debits and credits to a series of intermediary bank accounts, which is ordinarily done automatically by computer programs and without human intervention.

Get full access FREE

With a 7-Day free trial membership
Here's why 541,000 law students have relied on our key terms:
  • A complete online legal dictionary of law terms and legal definitions
  • Over 6,100 key terms written in plain English to help you not only understand the law but master it
  • The premier online law dictionary built specifically for law students
  • Easy access in class or on the go, accessible both online and through the Quimbee mobile app
  • Reliable - written by legal professors and practitioners
  • Get instant access to all related rules of law to any specific key term with a Quimbee Study Aid plan

Get full access FREE

With a 7-Day free trial membership