Define: Funds Transfer

How is Funds Transfer defined in a legal contract?

• Funds Transfer means a series of transactions, initiated by the originator's payment order, with the purpose of making payment to the recipient of the order. This term includes any payment order issued by the originator's [bank] or any middleman [bank] aiming to execute the originator's payment order. The transfer is completed when the recipient's [bank] accepts a payment order for the beneficiary's benefit. Seen in 139 SEC filings.
• Funds Transfer means transferring money, initiated through an Online Banking Service, from one qualified account to another. Seen in 27 SEC filings.
• Funds Transfer means a series of transactions, starting with the originator's payment order, implemented for the purpose of making a payment to the recipient of the order. Seen in 19 SEC filings.
• Funds Transfer means any transaction carried out on behalf of an originator through a [bank] by electronic means, aiming to make money available to a beneficiary person at another [bank]. The originator and the beneficiary can be the same person. Seen in 15 SEC filings.
• Funds Transfer means the allocation of money from one accessible account to another one. Seen in 11 SEC filings.
• Funds Transfer means moving funds from one account to another, whether both accounts are your accounts, a third-party's, or one account is owned by an external [bank]. Seen in 8 SEC filings.
• Funds Transfer means convenient transfer of money, including one originated through an electronic device, telephone, computer, or magnetic tape, for the purpose of ordering, instructing, or authorizing a ""[bank]"" to debit or credit an ""insured's"" ""account"". Funds transfer involves, but is not confined to, point-of-sale transfers, automated teller machine transfers, direct deposits, or withdrawals of funds, transfers initiated by telephone, and transfers resulting from debit or credit card transactions, whether or not initiated through an electronic terminal. Seen in 8 SEC filings.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of funds transfer' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Funds Transfer means shifting funds electronically, initiated by an originator for the beneficiary's benefit.

Relevant Contract Types

• Financial Services Agreements
• Banking Agreements
• Payment Services Agreements

Relevant Circumstances

• Payment of a product or service
• Remote business transactions
• Cross-border transactions

Relevant Sectors

• Financial Services
• E-commerce
• Technology

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Genie Definition 2

• Funds Transfer means the allocation of financial assets from one accessible account to another, via pre-defined [mediums].

Relevant Contract Types

• Intercompany Agreements
• Supply Chain Financing Agreements
• Escrow Agreements

Relevant Circumstances

• Transactions involving subsidiaries
• Supply chain financing transactions
• Real estate transactions involving an escrow account

Relevant Sectors

• Manufacturing
• Real Estate
• Retail

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