RCW 62A.4A-104
Funds transfer—Definitions.
In this Article:
(a) "Funds transfer" means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.
(b) "Intermediary bank" means a receiving bank other than the originator's bank or the beneficiary's bank.
(c) "Originator" means the sender of the first payment order in a funds transfer.
(d) "Originator's bank" means (i) the receiving bank to which the payment order of the originator is issued if the originator is not a bank, or (ii) the originator if the originator is a bank.
[ 2013 c 118 § 3; 1991 sp.s. c 21 § 4A-104.]
Structure Revised Code of Washington
Title 62A - Uniform Commercial Code
Chapter 62A.4A - Funds Transfers.
62A.4A-103 - Payment order—Definitions.
62A.4A-104 - Funds transfer—Definitions.
62A.4A-105 - Other definitions.
62A.4A-106 - Time payment order is received.
62A.4A-107 - Federal reserve regulations and operating circulars.
62A.4A-108 - Relationship to electronic fund transfer act.
62A.4A-201 - Security procedure.
62A.4A-202 - Authorized and verified payment orders.
62A.4A-203 - Unenforceability of certain verified payment orders.
62A.4A-205 - Erroneous payment orders.
62A.4A-206 - Transmission of payment order through funds-transfer or other communication system.
62A.4A-207 - Misdescription of beneficiary.
62A.4A-208 - Misdescription of intermediary bank or beneficiary's bank.
62A.4A-209 - Acceptance of payment order.
62A.4A-210 - Rejection of payment order.
62A.4A-211 - Cancellation and amendment of payment order.
62A.4A-212 - Liability and duty of receiving bank regarding unaccepted payment order.
62A.4A-301 - Execution and execution date.
62A.4A-302 - Obligations of receiving bank in execution of payment order.
62A.4A-303 - Erroneous execution of payment order.
62A.4A-304 - Duty of sender to report erroneously executed payment order.
62A.4A-305 - Liability for late or improper execution or failure to execute payment order.
62A.4A-402 - Obligation of sender to pay receiving bank.
62A.4A-403 - Payment by sender to receiving bank.
62A.4A-404 - Obligation of beneficiary's bank to pay and give notice to beneficiary.
62A.4A-405 - Payment by beneficiary's bank to beneficiary.
62A.4A-406 - Payment by originator to beneficiary; discharge of underlying obligation.
62A.4A-501 - Variation by agreement and effect of funds-transfer system rule.
62A.4A-502 - Creditor process served on receiving bank; setoff by beneficiary's bank.
62A.4A-503 - Injunction or restraining order with respect to funds transfer.
62A.4A-505 - Preclusion of objection to debit of customer's account.