n Without Prejudice - Getting your own back : EFT's and mistaken transfers : financial law

Volume 13, Issue 5
  • ISSN : 1681-178X



Effecting payment by way of electronic funds transfer (EFT) is the norm in today's commercial reality. On a day-to-day basis, trillions of dollars are transferred globally between bank accounts. The sheer multitude of transactions means that erroneous and mistaken payments occur frequently and are usually caused by human error either at bank-customer level or between banks.

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