Under the Nail: Sub__________

question 126

Short Answer

Under the nail: sub__________

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Definitions:

Electronic Fund Transfer Act

A law that protects consumers when they transfer funds electronically, including ATM transfers, direct deposits, and debit card transactions.

Transactions

Refers to the act of buying, selling, or exchanging goods, services, or financial assets.

Depositary Bank

The first bank to which an item is transferred for collection; the depositary bank may also be the payor bank.

Collection

The process of pursuing payments of debts owed by individuals or businesses, often conducted by creditors or agencies specialized in debt recovery.