Examlex
The EMS system is activated by:
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.
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