n Without Prejudice - Getting your own back : EFT's and mistaken transfers : financial law
|Article Title||Getting your own back : EFT's and mistaken transfers : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Jun 2013|
|Pages||73 - 74|
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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