Receiving Depository Bank definition

Receiving Depository Bank means a financial institution qualified by NACHA to receive ACH Transactions.
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Receiving Depository Bank or “RDFI” means a financial institution qualified by NACHA to receive ACH Transactions.
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Receiving Depository Bank or “RDFI” means a financial institution qualified by NACHA to receive transactions via the ACH Network. “Return Entry” means an Entry that cannot be processed and is being returned by the RDFI to the ODFI for correction or re-initiation.
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Examples of Receiving Depository Bank in a sentence

  • The Business Entity acknowledges and agrees that, if an Entry describes the Receiver inconsistently by name and account number, payment of the Entry transmitted to the Receiving Depository Bank might be made by the Receiving Depository Bank (or by the Bank in the case of an On-Us Entry) on the basis of the account number even if it identifies a person different from the named Receiver, and that the Business Entity's obligation to pay the amount of the Entry to the Bank is not excused in such circumstances.

  • ProgramBook BalanceBank BalanceLow Rent$ 67,831$ 67,774Voucher 16,497 16,497Total$ 84,328$ 84,271 Similar to cash deposits, investments held at financial institutions can be categorized according to three levels of risk.

  • In addition to the limitations on liability as provided in the General Terms, Fattmerchant and Financial Institution shall not be liable to Sub-Merchant or Sub-Merchant’s customers or any other person for any delay by an ACH Operator or Receiving Depository Bank in processing any credit or debit Entry, nor shall neither Fattmerchant nor Financial Institution be held liable for the failure of a third Party to process, credit, or debit any such Entry or for other acts of omission.

  • In the event any Entry is returned in accordance with the Rules by a Receiving Depository Bank after Fattmerchant has provided credit, Merchant shall, upon demand, repay Fattmerchant the amount of the Return Entry.

  • The Customer agrees that if an Entry describes the Receiver inconsistently by name and account number, payment of the Entry transmitted to the Receiving Depository Bank might be made by the Receiving Depository Bank (or by the Bank in the case of an On-Us Entry) on the basis of the account number even if it identifies a person different from the named Receiver, and that the Customer's obligation to pay the amount of the Entry to the Bank is not excused in such circumstances.

  • The Bank shall promptly pay the Customer the amount of each credit Entry returned by a Receiving Depository Bank pursuant to this Agreement.

  • In addition to the limitations on liability as provided in the General Terms, SimplePay and Financial Institution shall not be liable to Sub-Merchant or Sub-Merchant’s customers or any other person for any delay by an ACH Operator or Receiving Depository Bank in processing any credit or debit Entry, nor shall neither SimplePay nor Financial Institution be held liable for the failure of a third Party to process, credit, or debit any such Entry or for other acts of omission.

  • In the event any Entry is returned in accordance with the Rules by a Receiving Depository Bank after Bank has provided credit, Customer shall, immediately upon demand, repay Bank the amount of the Return Entry.

  • In the event any Entry is returned inaccordance with the Rules by a Receiving Depository Bank after American Payments Solutions LLC has provided credit, Merchant shall, upon demand, repay American Payments Solutions LLC the amount of the Return Entry.

  • Customer shall settle with and pay Bank for the amount of each Debit Entry returned by a Receiving Depository Bank (“RDFI”) or Debit Entry dishonored by Bank.

Related to Receiving Depository Bank

  • Depository Bank means the Institution that issues a specific Depositary Receipt on behalf of the underlying company. The Depository Bank maintains a holding of Stock in the Underlying on which it is able to issue Depositary Receipts;

  • Depository Agent is defined in Section 2.6(a) of the Agreement.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.

  • Depositary Bank means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter.

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

  • Securities Intermediary The meaning specified in Section 8-102(a)(14) of the UCC.

  • Certificate Depository Agreement means the agreement among the Trust, the Depositor and The Depository Trust Company, as the initial Clearing Agency, dated as of the Closing Date, relating to the Trust Securities Certificates, substantially in the form attached as Exhibit B, as the same may be amended and supplemented from time to time.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Insured Depository Institution Insured Depository Institution shall have the meaning ascribed to such term by Section 1813(c)(2) of Title 12 of the United States Code, as amended from time to time.

  • Certificate Depositary Agreement means the agreement among the Issuer Trust, the Depositor and the Depositary, as the initial Clearing Agency, dated as of the Closing Date, substantially in the form attached hereto as Exhibit B, as the same may be amended and supplemented from time to time.

  • Depositary Agent shall have the meaning set forth in Section 7(c) hereof.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Central Depository means Centrálny depozitár cenných papierov SR, a.s., with its registered seat at ul. 29. augusta 1/A, Bratislava 814 80, Slovak Republic, registered in the Commercial Register maintained by the District Court Bratislava I, Section: Sa, Insert No.: 493/B;

  • Lock-Box Bank means any of the banks or other financial institutions holding one or more Lock-Box Accounts.

  • Receiving Institution The college or university where a transfer student plans to enroll and to apply previously earned credit toward a degree program.

  • Control Agent has the meaning specified in the Intercreditor Agreement.

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Repo Custodian shall have the meaning set forth in the preamble of this Agreement.

  • Escrow Bank has the meaning specified in Section 2.15(c).

  • Certificate Custodian Initially, Wachovia Bank, National Association; thereafter any other Certificate Custodian acceptable to The Depository Trust Company and selected by the Trustee.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Verification Agent As defined in Section 3.28.

  • Billing agent means a telephone utility that includes in a bill it sends to a customer a charge for a product or service offered by a service provider.[PL 1999, c. 59, §1 (NEW); PL 1999, c. 59, §3 (AFF).]

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.