### Question
How is the term electronic fund transfer defined?


### Answer
The term **electronic fund transfer** is defined in *26 U.S.C. § 6302* as the following:

> any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, or computer or magnetic tape so as to order, instruct, or authorize a financial institution or other financial intermediary to debit or credit an account

#### Citation:
  - *26 U.S.C. § 6302*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 64-COLLECTION > Subchapter A-General Provisions**

