Funds transfer system

A formal arrangement, based on private contract or statute law, with multiple membership, common rules and standardised arrangements, for the transmission and settlement of money obligations arising between the members.

See also

• BACS
• Credit transfer system
• End-of-day gross settlement system
• Exchange-for-value system
• Interbank Funds Transfer System
• Large-value funds transfer system
• Retail funds transfer system
• Same-day funds
• Transfer system
• Payments and payment systems