Good times for fraud Nov 12, 2009
Transactions conducted directly through the electronic funds transfer system rather than the accounting system are also subject to scrutiny. Typically, instances of EFT fraud appear to be linked to issues around access to computer log-ons and inappropriate use of passwords, says OToole. (Sydney Morning Herald -- Business)
Defend against a net loss Oct 12, 2009
The Electronic Funds Transfer Code of Conduct determines who is liable if there's an unauthorised transaction on your account or credit card. It requires financial institutions to give you your money back where it is clear you haven't contributed to the loss but you may still be liable if your financial institution can prove you contributed to the loss by acting fraudulently, not keeping your PIN or password secret or unreasonably delaying telling your financial institution that your card has... (The Age, Australia)
Exceptional Family Member Program answers respite care questions Oct 9, 2009
For electronic funds transfer, up to three working days for payment. If a check is issued, it can take seven working days. (Leavenworth Lamp, KS)
PCMH board OKs effort to collect bad debt Oct 9, 2009
approved an agreement regarding electronic funds transfer with a vendor; currently, PCMH must have all disbursements approved by the Pecos County Commissioners Court during a Court session; according to Tippin, streamlining the process could save PCMH as much as 50,000 a year with the one vendor alone. approved the purchase of six cribs from Pedicraft Inc. at a cost of 16,995. (Fort Stockton Pioneer, TX)
CUNA Mutual to sell call center Oct 8, 2009
of Madison said Wednesday that it is selling its member service and lending support call center, The LoanLink Center, to , a credit union-owned electronic funds transfer network, effective Oct. 31. The acquisition will give Rancho Cucamonga, Calif. (Milwaukee Business Journal, WI)
Australian police investigate skimming fraud Oct 7, 2009
CANBERRA, Oct. 7 (Xinhua ) -- West Australian police revealed on Wednesday an EFTPOS (Electronic Funds Transfer at Point of Sale) scam has seen more than 150,000 Australian dollars (133,893 U.S. dollars) stolen from 2,500 bank accounts using details gleaned at Perth retail outlets. EFTPOS is an Australian and New Zealand financial network for processing credit cards, debit cards and charge card payments at "Point of Sale" and transacting at ATMs. (Xinhuanet, China)
New credit card rules help consumers, but they don’t replace discipline Sep 16, 2009
Or, as my wife, Georgina, and I have done for years, sign up to have your monthly bill automatically paid on the due date through an electronic funds transfer from your checking account. Automatic payments have worked particularly well for us because we travel frequently. (Boston Globe)
VistaPrint Says Federal Lawsuit Dismissed Sep 3, 2009
The plaintiffs' complaint alleged that the defendants had violated the Electronic Funds Transfer Act, the Electronic Communications Privacy Act, and the Massachusetts Unfair Trade Practices Act in connection with certain third-party membership discount programs offered to VistaPrint customers on the company's Web site. On Aug. 18, the plaintiffs voluntarily dismissed VistaPrint Ltd. from the case. (ABC News -- Wire)
Vistaprint Announces Dismissal of Federal Class Action Lawsuit Sep 3, 2009
The plaintiffs' consolidated complaint in the lawsuit alleged that the defendants had violated the Electronic Funds Transfer Act, the Electronic Communications Privacy Act, and the Massachusetts Unfair Trade Practices Act in connection with certain third party membership discount programs offered to Vistaprint customers on Vistaprint. com. (Primezone Releases)
Electronic Bill-Payment Service Saves Time and Money Sep 3, 2009
The company does this using the , a secure, nationwide electronic funds transfer system. Small businesses can match their vendors to Bill. (SmallBusinessComputing)
TSYS to service Global Cash Access Aug 25, 2009
Global Cash will use TSYS processing services to connect with card associations and electronic funds transfer networks to complete ATM cash withdrawals, credit card cash advances and point-of-sale debit card transactions for patrons of Global Cash s casino customers. TSYS provision of our processing services will provide GCA with the sophisticated processing platform capabilities we need to support our customers as well as ongoing technology innovations, said Scott Betts, Global Cash president... (Atlanta Business Chronicle, GA)
Court shuts down sites promising free gov't grants Aug 22, 2009
The FTC charged the Grant Connect defendants with violating federal law by making deceptive representations regarding Grant Connect; failing to adequately disclose the material terms and conditions of their offers; and violating the U.S. Electronic Funds Transfer Act by debiting consumers' bank accounts on a recurring basis without their authorization. The FTC complaint named the companies Grant Connect, , , , , and , as well as , manager of Vantex and Vertek; , managing member of Grant Connect,... (San Francisco Chronicle -- Technology)
Doesn't sound like America Aug 14, 2009
And finally on page 59: The federal government will have direct, real-time access to all individual bank accounts for electronic funds transfer. You will pay whether you want to or not. (Yuma Daily Sun, AZ)
Are politicians afraid of us? Aug 12, 2009
FICTION: The federal government will have direct, real-time access to all individual bank accounts for electronic funds transfer (according to Jimmy and his ignorant cohorts) ... The standards under this section shall be developed, adopted and enforced so as to (C) enable electronic funds transfers, in order to allow automated reconciliation with the related health care payment and remittance advice. (Atlanta Journal-Constitution -- Opinion)
State spends $2M for an extra $25 in jobless benefits Aug 6, 2009
The majority, nearly three in five, have benefits directly deposited by an electronic funds transfer. In both cases, the $25-a-week bump is paid with a second transaction. (Florida Today)
Tamara Heram: We don’t need this kind of reform Aug 5, 2009
Page 59, lines 21-24: Government will have direct access to your bank accounts for electronic funds transfer. Page 124, lines 24-25: No company can sue the government on price fixing. (La Crosse Tribune, WI)
Steve Cahalan: Three businesses set to close this weekend Jul 30, 2009
Washa said customers are taking advantage of other convenient customer support and bill payment options, such as online, telephone and electronic funds transfer. Major remodeling began last week at the Walmart Supercenter at 4622 Mormon Coulee Road and is expected to be completed by Sept. 30. (La Crosse Tribune, WI)
Health care legislation is dishonest Jul 28, 2009
Page 59: The federal government will have direct, real-time access to all individual bank accounts for electronic funds transfer. Page 65: Taxpayers will subsidize all union retiree and community organizer health plans (read: SEIU, UAW and ACORN). (Waterloo Courier, IO)
Food summit set for Sunday Jul 9, 2009
Rebecca Terk, board president of the Vermillion Area Farmers Market, and Sandra Vannemann, state administrator of the Electronic Benefits Transfer/Food Stamp program, will discuss how the Vermillion farmers market became the first in South Dakota to use electronic funds transfer technology, providing low-income families with access to their local farmers market this season. Our ability to accept these forms of payment has increased both the number and the cash amount of purchases; benefiting... (Rapid City Journal, SD)
Changes in FSA rules for CCC loan disbursements (2) May 31, 2009
Individual producers with lenders that do not wish to have the banks name on the check and the producer utilizes electronic funds transfer (EFT), loan proceeds or refunds will be credited to the producer's account within two work days by EFT.. If there are multiple producers involved, each will receive their portion of the payment by EFT. Interest charges on the transaction will start on the second day after disbursement for loans. (Minnesota Farm Guide, MN)
Smash and grab days may be over May 16, 2009
As well, the Code of Banking Practice and the Australian Securities and Investments Commission's Electronic Funds Transfer Code are under review. Banks might still be able to charge hefty fees, but regulators and consumers will have more avenues to trip them up. (Sydney Morning Herald -- Business)
Rs 1L cheque no longer high value May 13, 2009
For same-day clearance, banks are advising their customers to fill in a special form and use RTGF (Real 00004000 Time Gross Settlement) or NEFT (National Electronic Funds Transfer). "The idea is to facilitate easier transactions by getting into electronic clearing," says a RBI spokesperson. (India Times)
Now Pin is mightier than the pen May 13, 2009
Even the smallest of shops have an electronic funds transfer position (EFTpos) terminal. I couldn't believe how archaic the banking system was when I moved to London. (BBC News -- Technology)
Pay less in bank charges May 12, 2009
Tip: If you do not have a regular monthly pay date, sign up for internet banking and pay beneficiaries via EFT (electronic funds transfer). Hidden fee 3: Drawing money when abroad. (iAfrica.com)
Public Warned Of Phone Scam Targeting Seniors May 8, 2009
"The caller usually requests the money to be transferred via a company that provides electronic funds transfer and tells the victim that he will call back to get the transaction reference number," SDPD spokeswoman Monica Munoz said. "If the scammer gets his money, he calls back asking for more money.". (TheSanDiegoChannel.com, CA)
Commission not told of spending on MP's campaign May 8, 2009
The Herald has obtained union credit card statements, ledger entries, electronic funds transfer records and invoices showing the HSU's national office spent at least $53,000 campaigning in Dobell for the federal election in 2007. The HSU's NSW secretary, Michael Williamson, confirmed yesterday that none of the national office spending was included in the disclosure of political expenditure lodged by the union's state branch. (Sydney Morning Herald -- Australia)
Firms keep family lending civil Apr 30, 2009
For an additional $9 per payment, loan servicing is provided, which includes electronic funds transfer and e-mail payment reminders. "The loan documents provided by peer-to-peer lenders are of course part of the service and are fairly straightforward," Curtis Arnold, co-author of "The Complete Idiot's Guide to Person-to-Person Lending" wrote in an e-mail. (Fresno Bee -- Lifestyle)
The Taxman Cometh Apr 12, 2009
But first, check with your financial institution to be sure it allows Electronic Funds Transfer (EFT) and to ensure you are using the correct routing number, to avoid any payment delays. If for some (paranoid) reason, you think electronic bank account debit could make it easier for the IRS to spy on you, get a grip: The same information you would provide electronically is already available to the IRS from the information you file with your tax return. (CBS News)
Fintech has 50-state regulatory approval Apr 2, 2009
Fintech provides electronic funds transfer and invoice settlement services to the convenience store, grocery, drug and restaurant/hospitality industries and said it now has more than 157,000 buyer/seller relationships. With the recent approvals, the company said it is the only one of its kind operating nationally with services that allow retailers purchasing beer, wine, and spirits to pay their distributors electronically from headquarters rather than with currency, check or money order at each... (Tampa Bay Business Journal, FL)
Work makes a comeback Mar 11, 2009
The latter required the continuing employment by the company of high-priced investment managers in order to ensure that the guaranteed benefit promised to the workers was earned - in contrast, all that 401(k) defined benefit plans required was the company doing an electronic funds transfer into the employee's plan. In addition, it came to be accepted that many companies were not even offering any type of corporate financial match to the employee's funds; just having set up a 401(k) was seen to... (Asia Times Online)
High Court rules in Idaho case Feb 25, 2009
But Rumel also said that they have moved away from payroll deductions and to electronic funds transfer after people get their paychecks for political contributions just in case the court did not rule their way. "While we're certainly disappointed in the outcome, we've moved on," Rumel said. (Pocatello Idaho State Journal, ID)
Cardtronics Announces Fourth Quarter and Full-Year 2008 Results Feb 24, 2009
The continued transitioning of the Company's ATM portfolio over to its in-house electronic funds transfer ("EFT") transaction processing platform. As of December 31, 2008, the Company was processing transactions for over 26,700 ATMs. (Primezone Releases)
Hawaii credit unions sign with Fifth Third Feb 21, 2009
Two Hawaii credit unions have signed contracts with an Ohio company for electronic funds transfer services. HONEA Federal Credit Union, based in Fort Shafter, and Ewa Federal Credit Union, signed contracts with Fifth Third Processing Solutions for ATM driving, debit-card processing and card production services. (Pacific Business News, HI)
Worker pleads guilty to scam (2061) Feb 8, 2009
He was able to establish bank instructions through the Internet that created an electronic funds transfer link with U.H.'s account and on July 11 had 6,052 transferred into his First Madison account. Three days later he withdrew 6,050 in cash from his bank account. (Montana Standard, MT)
ICICI Bank's online remittance service Feb 7, 2009
Money2india leverages the payment infrastructure in India to the fullest, offering credits to accounts in ICICI Bank, electronic payments using the National Electronic Funds Transfer (NEFT) system to over 100 banks, payments to debit and credit cards (through VISA) and bank drafts. The website is a convenient and a user friendly money transfer tracking service with a simple one-time registration process after which the user can, at his convenience track money remitted as and when s/he wants from... (India Times, India)
