Funds Transfer
/ˈfʌndz trænsˌfɜːr/
Definitions
- (n.) The electronic or other conveyance of money from one person or entity to another.
The funds transfer was completed within seconds through the bank's secure system.
- (n.) A type of payment mechanism regulated under the Uniform Commercial Code and other financial laws involving the movement of money between accounts.
Funds transfers under the UCC must comply with specific warranties and liabilities.
Forms
- funds transfers
Related terms
See also
Commentary
In legal drafting, distinguish 'funds transfer' as a concept from specific modes like 'wire transfer'; precise usage may affect liability and regulatory compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.