1245:-based systems, without the direct intervention of bank staff. Funds transfers are the primary mechanism used by the business community for fast and reliable transfer of funds between two parties. The funds transfer process generally consists of a series of electronic messages sent between financial institutions directing each to make the debit and credit accounting entries necessary to complete the transaction. A funds transfer can generally be described as a series of payment instruction messages, beginning with the originator's (sending customer's) instructions, and including a series of further instructions between the participating institutions, with the purpose of making payment to the beneficiary (receiving customer).
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of 1978 it is "a funds transfer initiated through an electronic terminal, telephone, computer (including on-line banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to
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EFT transactions are known by a number of names across countries and different payment systems. For example, in the
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Feasibility of a Cross-Border
Electronic Funds Transfer Reporting System under the Bank Secrecy Act
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Not all EFT payments are processed through the ACH network, but all ACH payments are EFTs
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Australian
Government – AUSTRAC Electronic funds transfer instruction (EFTI)
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1335:) is an umbrella term that refers to a number of different transfer methods:
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USA Federal Trade
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Electronic transfer of money from one bank account to another
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Society for
Worldwide Interbank Financial Telecommunication
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Payment", "bank transfer" and "bank payment" are used, in
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payment or withdrawals of funds initiated by the payer
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110:introducing citations to additional sources
71:Learn how and when to remove these messages
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1496:(Report). U.S. Department of the Treasury.
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263:Learn how and when to remove this message
100:Relevant discussion may be found on the
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1411:(EFTPOS) are transfers resulting from
199:Please improve this article by adding
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1241:or across multiple institutions, via
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1237:to another, either within a single
1634:. You can help Knowledge (XXG) by
1581:. You can help Knowledge (XXG) by
1401:Transfers initiated by telephone (
1304:" is used, while in several other
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1419:transactions initiated through a
1371:for payment for goods or services
52:This article has multiple issues.
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962:Strategic financial management
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1520:. Federal Reserve Board. 1978
1116:Sustainable development goals
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212:"Electronic funds transfer"
121:"Electronic funds transfer"
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1353:Automated teller machine
1340:Automated Clearing House
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30:Not to be confused with
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18:Electronic transactions
1577:-related article is a
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296:Part of a series on
106:improve this article
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253:November 2018
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214: –
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186:This article
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95:single source
91:This article
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1636:expanding it
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1524:September 8,
1522:. Retrieved
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1365:Direct debit
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1327:
1292:, the term "
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1235:bank account
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1059:participants
932:Pension fund
740:Asset growth
735:Bank secrecy
610:Bill payment
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529:Money-market
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363:Credit union
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54:Please help
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1308:countries "
1091:Market risk
982:Toxic asset
952:Speculation
840:engineering
378:Development
358:Cooperative
162:August 2017
1675:Categories
1476:References
1417:debit card
1302:e-transfer
1064:regulation
713:management
708:allocation
605:Electronic
398:Industrial
393:Investment
373:Depository
348:Commercial
223:newspapers
190:references
132:newspapers
57:improve it
1575:economics
1044:Financial
835:economics
815:Financial
681:BRICS PAY
473:Wholesale
468:Universal
368:Custodian
102:talk page
63:talk page
1453:See also
1427:Internet
1393:terminal
1306:European
1243:computer
1168:Category
860:services
845:forecast
820:analysis
725:Bad debt
511:Accounts
496:Accounts
433:Payments
423:Offshore
403:Merchant
328:Advising
1443:(SWIFT)
1389:QR Code
1276:GiroApp
1178:Commons
855:planner
825:analyst
573:Prepaid
534:Savings
524:Deposit
458:Savings
443:Private
418:Neobank
343:Central
305:Banking
237:scholar
146:scholar
1471:(RTGS)
1413:credit
1298:Canada
1286:checks
1267:credit
1188:Portal
1111:Shares
1074:system
1054:market
615:Mobile
595:Cheque
563:Credit
498:
453:Retail
448:Public
383:Direct
239:
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1573:This
1514:(PDF)
1494:(PDF)
1316:Types
1263:debit
830:asset
703:Asset
693:Terms
654:SWIFT
568:Debit
550:Cards
503:Cards
244:JSTOR
230:books
153:JSTOR
139:books
1632:stub
1579:stub
1526:2018
1425:Web/
1294:BACS
1069:risk
912:Loan
850:plan
750:Cash
676:SPFS
671:CIPS
649:Giro
627:RTGS
622:Wire
600:Card
333:Banq
216:news
125:news
1415:or
1395:or
1377:in
1333:EFT
1324:ATM
1300:, "
1265:or
1231:EFT
1049:law
805:ESG
666:CLS
639:ACH
558:ATM
192:to
108:by
1677::
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1502:^
1346:.
632:NS
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