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LSDefine

Simple English definitions for legal terms

electronic funds transfer

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A quick definition of electronic funds transfer:

Electronic funds transfer is a way to send money from one person or organization to another using computers. It involves a series of transactions between banks, starting with the person who wants to send the money and ending with the person who receives it. This process is regulated by laws that protect consumers and businesses.

A more thorough explanation:

Electronic funds transfer (EFT) is a process of transferring money from one person or entity to another through computerized banking systems. It involves a series of transactions that begin with the originator's payment order and end when the beneficiary's bank receives the final payment order.

For example, if you want to pay your electricity bill online, you can use EFT to transfer the money from your bank account to the electricity company's account. The process involves authorizing your bank to transfer the funds, and the electricity company's bank to receive the funds.

EFT is commonly used for various types of payments, such as direct deposit of salaries, online bill payments, and online shopping. It is a convenient and secure way of transferring money without the need for physical cash or checks.

Electronic Data Interchange agreement | electronic currency

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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