§ 6517 Electronic Funds Transfer Rules

Financial Code·California

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Key Takeaways

•Banks can move money between accounts electronically, like when you pay someone online.
•This includes sending money to other people or businesses.
•The machines or computers used for this are not considered bank branches.

Example

You use your phone to send money to a friend for concert tickets.

The bank can do this because the law allows electronic money transfers. The app or website you use isn’t a bank branch, just a tool to move money.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 6517 Electronic Funds Transfer Rules

Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings accounts, and third parties, or their designees, by means of an electronic funds transfer system. No system or any part of it, including terminals or processing centers, shall of itself be considered a branch office or agency. (Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)

Last verified: January 23, 2026

Key Terms

regulation commission association

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 6517.

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Key Takeaways

Example

Key Terms

Related Statutes

References