Know Your Customer (KYC)
Know Your Customer is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.
Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. An EFT is the electronic exchange or transfer of money from one account to another, either within the same...
Any public or private bank, credit union, or savings and loan, subject to national and state banking laws, and capable of both accepting deposits and making loans. These institutions collect funds from the public or...