Allmerica's own data indicates that our retention is about 10% higher on electronic funds transfer
business than on direct-bill business.
Recommendation: Enhance the procedure for processing requests for electronic funds transfers
The Electronic Funds Transfer
Association is a trade association that promotes the use of electronic payments and commerce.
ACS contracted to provide electronic funds transfer
services to Select Employees Federal Credit Union of San Antonio, Texas, United Heritage Federal Credit Union in Austin, Texas, P.
Duncan, Executive Director of the Federation of Tax Administrators (FTA), concerning the FTA's draft recommendations for electronic funds transfer
procedures for the payment of state taxes.
If implemented as proposed, these rules would result in the most significant change in consumer electronic payments since the enactment of Regulation E of the Electronic Funds Transfer
Act in the 1970s," said Kurt Helwig, president and CEO of the Electronic Funds Transfer
94-46 explained how a taxpayer making an electronic funds transfer
can establish reasonable cause for abating a failure to deposit penalty under Sec.
Jim Stewart, vice president, electronic funds transfer
division of Affiliated Computer Services, Inc.
Testimony on Development of Electronic Funds Transfer
Programs for the Payment of State Taxes
Founded in 2000, the eFEC is a council of the Electronic Funds Transfer
Association that is dedicated to fostering industry relationships, best practices and a favorable legislative and regulatory environment for internet-based financial activities.
1, 1995, California taxpayers will become mandatory participants in an Electronic Funds Transfer
(EFT) program if specified thresholds are reached.
Initially, the state will target corporate electronic funds transfer
(EFT) taxpayers to sign on for the service, which will help reduce the cost of processing business tax filings.