Skip to content

EFTA Remittance Transfers Same as Wire?

Answered by: 

The new change to the EFTA about "Remittance Transfers" is this the same as wire transfers? What is the difference?

"Foreign remittance transfers" include electronic transfers of funds on behalf of consumers who transfer those funds to persons (individuals and entities) or places outside the U.S. Among the transfers covered are consumers' wire transfers, ACH transactions and any bill-payment transactions sent outside the U.S. that qualify as EFTs under Section 1005.3(b)(1) of Regulation E (and Comment 3(b)(1) Also included are certain prepaid access (stored-value card) transactions.

First published on 5/14/12.

First published on 05/14/2012

Filed under: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics