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Effective date

(1) The date on which funds will be transferred electronically from or to a customer’s account.

(2) The date on which cash flows due under a swap contract begin to accrue.

 

Efficiency ratio

Used to analyze how well a company uses its assets and liabilities internally. Can calculate the turnover of receivables, the repayment of liabilities, the quantity and usage of equity, and the general use of inventory.

 

EFT

See Electronic funds transfer (EFT).

 

EFT Act of 1978 (EFTA)

Intended to protect individual consumers engaging in electronic fund transfers (EFTs). EFT services include transfers through ATMs, point-of-sale terminals, ACH, telephone bill payment plans in which periodic or recurring transfers are made, and remote banking programs. The Federal Reserve Board implements EFTA through Reg E.

 

Electronic funds transfer (EFT)

Federal law protecting consumers engaged in the transfer of funds through electronic methods. This includes the use of debit cards, withdrawals from ATMs, and withdrawals from a bank account.

 

 

Expired Status

The status an applicant has once they are placed in Manual Review, do not upload the requested documents by the deadline determined by the Helix bank of record, or do not answer the IQ Questions in the allotted fifteen (15) minutes provided by the verification provider. Once an applicant is placed in Expired status, they must attempt the registration process again to create an account in Helix.