Electronic Transfer Account - ETA

Filed Under:
Dictionary Says

Definition of 'Electronic Transfer Account - ETA'


A bank account for federal payment recipients who do not have checking or savings accounts. Instead of receiving federal payments by check for Social Security, SSI, the Railroad Retirement Board, OPM retirement, VA benefits, DOL/Black Lung and civilian or military salary or wages, an ETA allows the recipient to receive his or her federal transfer payment by direct deposit, which is considered to be faster, more convenient and more secure than receiving payment by check.

Investopedia Says

Investopedia explains 'Electronic Transfer Account - ETA'


The ETA is a federally insured account and is available through those banks, savings and loans, and credit unions that have registered with the U.S. Treasury as ETA providers. Money can be withdrawn from the account over the counter, at an ATM or through debit card purchases depending on the account terms, but not through check writing. Investment companies, insurance companies and check-cashing companies cannot offer ETAs. Individuals can open an ETA regardless of credit history unless they have previously abused an ETA account.

comments powered by Disqus
Hot Definitions
  1. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  2. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  3. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  4. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  5. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  6. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
Trading Center