Remittance transfer

Remittance transfer(1) General definition. A remittance transfer means the electronic transfer of funds requested by a sender to a designated recipient that is sent by a remittance transfer provider. The term applies regardless of whether the sender holds an account with the remittance transfer provider, and regardless of whether the transaction is also an electronic fund transfer, as defined in 1005.3(b).
(1)General definition.A remittance transfer means the electronic transfer of funds requested by a sender to a designated recipient that is sent by a remittance transfer provider. The term applies regardless of whether the sender holds an account with the remittance transfer provider, and regardless of whether the transaction is also an electronic fund transfer, as defined in 1005.3(b).

Source

12 CFR § 1005.30

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Scoping language

Except as otherwise provided, for purposes of this subpart, the following definitions apply:

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