Florida Statute 670.104 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 670
UNIFORM COMMERCIAL CODE: FUNDS TRANSFERS

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670.104 Funds transfer: definitions.—In this chapter, the term:

(1) “Funds transfer” means the series of transactions, beginning with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator’s bank or an intermediary bank intended to carry out the originator’s payment order. A funds transfer is completed by acceptance by the beneficiary’s bank of a payment order for the benefit of the beneficiary of the originator’s payment order.

(2) “Intermediary bank” means a receiving bank other than the originator’s bank or the beneficiary’s bank.

(3) “Originator” means the sender of the first payment order in a funds transfer.

(4) “Originator’s bank” means:

(a) The receiving bank to which the payment order of the originator is issued if the originator is not a bank; or

(b) The originator if the originator is a bank.

History.—s. 1, ch. 91-70.

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Amendments to 670.104

Annotations, Discussions, Cases:

Cases Citing Statute 670.104

Total Results: 2 | Sort by: Relevance | Newest First

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Gilbert & Caddy, P.A. v. JP Morgan Chase Bank, N.A., 193 F. Supp. 3d 1294 (S.D. Fla. 2016).

Cited 2 times | Published | District Court, S.D. Florida | 2016 U.S. Dist. LEXIS 183865, 2016 WL 4613388

...se dr order to pay money handled by a bank for collection or payment. The term does not include a payment order governed by chapter 670 Fla. Stat. Ann. § 674 .104®. The chapter . 670 exemption to “items” includes all funds transfers defined in § 670.104, 3 seemingly placing the Sacks Transfers beyond the scope of § 674.406 and Douglas....

...Sacks Transfers made prior to January 1, 2014. . A " ‘[f|unds transfer’ means the series of transactions, beginning with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order.” Fla. Stat. Ann. § 670.104 (1)....

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Jesus Alonso Alvarez Rodriguez v. Branch Banking & Trust Co. (11th Cir. 2022).

Published | Court of Appeals for the Eleventh Circuit

...fers,” the drafters wrote, this was particularly important. Id. A “funds transfer” occurs when a bank customer instructs her bank—also known as a “receiving bank” because the bank re- ceives the instruction—to send money to a second person’s bank account. Id. § 670.104. The second bank is the “beneficiary’s bank,” and this direction is called a “payment order.” Id. §§ 670.103, 670.104....

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