Rights of Consumers
If a person is required to be paid salary or government benefit by electronic funds transfer, the EFT Act recognizes their right to nominate the financial institution to which such payments are to be made.
The EFT Act also prohibits a creditor or lender from requiring a consumer to repay a loan or other credit by electronic fund transfer, except when there is an overdraft on checking plans.
Read more about this topic: Electronic Fund Transfer Act
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