Electronic Fund Transfer System [EFTS] Law and Legal Definition

Electronic Funds Transfer System (EFTS) refers to electronic funds transfer systems whereby funds are transferred electronically from a cardholder's account to any other account.

The following is an example of a case law on EFTS:

The term electronics funds transfer systems includes and encompasses place-of-business funds transfer systems and remote service units. [Bloomfield Federal Sav. & Loan Asso. v. American Community Stores Corp., 396 F. Supp. 384, 386 (D. Neb. 1975)].