A | B | C | D | E | F | G | I | K | M | N | O | P | R | S | T | U

Electronic funds transfer instruction (EFTI)

An instruction for the transfer of money controlled by a customer to another person, where:

  • the transfer instruction is carried out or passed on electronically
  • the transfer is within the same financial institution or between financial institutions. 

See

AML/CTF Act 2006 sections 5, 8 and 9

Express trust

Express trust means a trust expressly and intentionally created in writing by a settlor but doesn’t include a testamentary trust.