---
term: "Unauthorized electronic fund transfer"
category: "Liability and disputes"
url: https://agenticopenfinance.com/glossary/unauthorized-electronic-fund-transfer
source: AgenticOpenFinance glossary
---

# Unauthorized electronic fund transfer

> Under US Regulation E, a transfer started by someone without actual authority, from which the consumer gets no benefit.

Under the US Regulation E, an unauthorized electronic fund transfer is a transfer from a consumer's account initiated by a person other than the consumer without actual authority to initiate it and from which the consumer receives no benefit. The definition excludes transfers by a person to whom the consumer furnished the access device, unless the consumer has told the institution that the person's authority was revoked. The consumer's liability is limited and tiered by how quickly they report, which makes the scope of authority granted to an agent a central question.

Related terms: [Error resolution](https://agenticopenfinance.com/glossary/error-resolution.md), [Unauthorised payment transaction](https://agenticopenfinance.com/glossary/unauthorised-payment-transaction.md), [Revocation](https://agenticopenfinance.com/glossary/mandate-revocation.md), [Principal](https://agenticopenfinance.com/glossary/principal.md)