Settlement Account definition

Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

Settlement Account means the transactional banking account held with an Australian bank which is nominated by the Investor on its Application Form;

Settlement Account means the bank account of the Customer designated as the Settlement Account in the Customer Information Statement or such other bank account of the Customer as the Customer may notify CSBHK in writing from time to time;

Examples of Settlement Account in a sentence

• In the event a Transaction is charged back for any reason, the amount of such Transaction will be deducted from AGENCY’s designated Settlement Account or any payment due to AGENCY.

• Processor at its sole and absolute discretion may require that each month Merchant deposit, or Processor or Member Bank may deposit by deducting from any provisional credit or payment due to Merchant or from any funds in the Settlement Account or any other deposit account of Merchant sums into the Reserve Account no later than the twentieth day of the month.

• Xxxxxxxx agrees that Processor and Member Bank may audit all Transaction calculations and that Processor and Member Bank shall have the right, without notice, to make withdrawals, deposits, or other adjustments to or from the Settlement Account for any deficiencies or overages.

• In addition, Xxxxxxxx agrees that its signature on the Merchant Application will be considered Xxxxxxxx’s signature agreeing to any control agreement as defined in Article 9 of the Uniform Commercial Code among Merchant, Processor, Member Bank and any other financial institution under which Processor, Member Bank, Merchant and any other financial institution agree to the disposition of funds in the Settlement Account, the Reserve Account or any other deposit account without further consent by Merchant.

• Merchant may change the Settlement Account upon prior written approval by Processor, which approval will not be unreasonably withheld.

More Definitions of Settlement Account

Settlement Account is the checking account or other acceptable deposit account Merchant maintains at a depository institution acceptable to Provider for credit of Transactions by Merchant Bank and debit of Credit Vouchers, Chargebacks, Processing Fees, any fines, assessments or fees assessed by Card Networks or other governmental agency or entity having authority, and other reimbursement to which Provider may be entitled under this Agreement.

Settlement Account means the account maintained by Bank used for Settlement of all transactions initiated by use of a Card(s) by or on behalf of a Cardholder.

Settlement Account means an account at a central bank, a settlement agent or a central counterparty used to hold funds or securities and to settle transactions between participants in a system;

Settlement Account means an account held at a Payment Integrated Financial Institution that has been registered with XXXX for source funding or disbursement (or both) that belongs to a Subscriber, using that Payment Integrated Financial Institution’s ESA.

Settlement Account means an Account managed by DBS Private Bank, whether in Singapore Dollars or any other currency, for purpose of effecting settlement in relation to any Investment, Transaction and/or Service made available by us.

Settlement Account. A deposit account at a financial institution designated by Carrier as the account to be debited or credited, as applicable, for Net Activity.

Settlement Account means a trust account established for the benefit of Schools at the Settlement Account Bank that holds Good Funds until they are remitted to Students.