Examlex
What is digital divide? Identify its challenges.
Electronic Funds Transfer (EFT)
The electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
Proximately Caused
The action that directly leads to a specific effect or outcome, establishing a clear causal link in legal responsibility.
ATM
An Automated Teller Machine that allows bank customers to perform financial transactions, such as withdrawals and deposits, electronically without a human teller.
Payor Bank
The bank that is responsible for paying the check or draft as specified by the person making the payment.
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