Off-Line Bank Law and Legal Definition
According to 12 CFR 210.26 [Title 12 -- Banks and Banking; Chapter II -- Federal Reserve System; Subchapter A -- Board of Governors of the Federal Reserve System; Part 210 -- Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire (Regulation J); Subpart B -- Funds Transfers Through Fedwire], off-line bank means “a bank that transmits payment orders to and receives payment orders from a Federal Reserve Bank by telephone orally or by other means other than electronic data transmission.”
