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Michigan Compiled Laws, Chapter 488. Electronic Funds Transfers § 488.20

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 20. In order to promote the security of electronic fund transfers, financial institutions shall make available to customers:

(a) Options to limit the total amount of cash which can be withdrawn through the use of an electronic funds transfer terminal, from a customer's account in any single day. The options shall include, but need not be restricted to, a limit of $50.00.

(b) An option to limit access through an electronic funds transfer terminal to 1 or more specified accounts.

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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 488. Electronic Funds Transfers § 488.20 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-488-electronic-funds-transfers/mi-comp-laws-488-20/

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