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The regulation of electronic funds transfers : problematic aspects relating to banks liability
Mini Dissertation (LLM (Banking Law))--University of Pretoria 2020.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2020
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| _version_ | 1867613669545738240 |
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| access_status_str | Open Access |
| author2 | Brits, Reghard |
| author_browse | Brits, Reghard |
| author_facet | Brits, Reghard |
| collection | Thesis |
| dc_rights_str_mv | © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (LLM (Banking Law))--University of Pretoria 2020. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/77358 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:39:49.604Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2020 |
| publishDateRange | 2020 |
| publishDateSort | 2020 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/77358 The regulation of electronic funds transfers : problematic aspects relating to banks liability Brits, Reghard ndlovu.wn97@gmail.com Ndlovu, Witness Nomfundo UCTD Electronic funds transfer systems Banking Payments South African Code of Banking Practice Unauthorised banking Mini Dissertation (LLM (Banking Law))--University of Pretoria 2020. The evolution of various payment instruments shows a marked inclination away from the reliance on physical currency. This has, in turn, led to the construction of new manifestations of wealth. Due to revolution and developments of technology, payment can be made by various means such as physical delivery of conventional money (coins and bank notes) from the payer to the payee, but may also be made through tangible paying methods other than negotiable instruments such as debit or credit card or by way of electronic funds transfer. The development of payment systems makes it a reality for consumers to choose their preferred method of payment suitable for their banking needs and circumstances. Electronic funds transfer is a generic term that embraces any transfer of funds in which electronic techniques replace one or more of the steps in the process that were previously done by paper-based techniques. This includes automated teller machines, the transfer of funds at the point of sale, direct deposit or withdrawal of funds and funds initiated by telephone. The use of electronic funds transfer systems is described as the ultimate act of payment for not only is the value which is transferred reduced to a symbolic form, but the symbolic form itself is removed from the immediate possession of the parties to the transfer, payment also essentially becomes the transfer of information. Electronic funds transfer are easy and convenient to use. However, new technology has not only provided an ever-increasing range of electronic payment products, it has also had far-reaching effects on the way in which banks operate. Owing to the lack of legislation in South Africa to regulate the use of electronic funds transfer, banks rely on the law of contract and mandate to exempt themselves from liability. Therefore, the research problem that this dissertation aims to address revolves around the legal implications of electronic funds transfer, This includes the questions surrounding reversal and recovery of electronic funds transfer when payment is considered to be final and complete. Ultimately, I will attempt to address apportionment of liability between banks and consumers. GCRA Bursary Mercantile Law LLM (Banking Law) Unrestricted 2020-12-11T08:33:04Z 2020-12-11T08:33:04Z 2021-04 2020 Dissertation Ndlovu, WN 2020, The regulation of electronic funds transfers : problematic aspects relating to banks liability, LLM (Banking Law) Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/77358> A2021 http://hdl.handle.net/2263/77358 en © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Electronic funds transfer systems Banking Payments South African Code of Banking Practice Unauthorised banking The regulation of electronic funds transfers : problematic aspects relating to banks liability |
| title | The regulation of electronic funds transfers : problematic aspects relating to banks liability |
| title_full | The regulation of electronic funds transfers : problematic aspects relating to banks liability |
| title_fullStr | The regulation of electronic funds transfers : problematic aspects relating to banks liability |
| title_full_unstemmed | The regulation of electronic funds transfers : problematic aspects relating to banks liability |
| title_short | The regulation of electronic funds transfers : problematic aspects relating to banks liability |
| title_sort | regulation of electronic funds transfers problematic aspects relating to banks liability |
| topic | UCTD Electronic funds transfer systems Banking Payments South African Code of Banking Practice Unauthorised banking |
| url | http://hdl.handle.net/2263/77358 |