electronic funds transfer activity

nouncandidate·updated May 9, 2026

GlossaryL1 — what DictionaryL2 — how used ThesaurusL3 — relations Universaleverything

Any transfer of funds which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. ... These are normally considered retail funds transfer systems.

Framework senses

1 sense across 1 framework

FFIEC IT Examination Handbook - Audit, April 20121 senseview framework →

§1: Any transfer of funds which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. ... These are normally considered retail funds transfer systems.