Electronic Fund Transfer Law

The Electronic Fund Transfer Law (EFT Law) regulates electronic transactions that move money between accounts, like debit card purchases and online banking. It aims to protect consumers by ensuring they are informed about their rights and responsibilities. Key provisions include error resolution processes, limits on liability for unauthorized transactions, and requirements for banks to provide clear information about fees and terms. In e-commerce, this law is crucial for safeguarding your financial information and ensuring secure electronic transactions.