ACH Service. The ACH Service allows you to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and the local Automated Clearing House Association (the "Rules"). We are willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries. Accordingly, you may submit ACH Entries to us in accordance with the terms and conditions of this Agreement. You are responsible for all Entries to the fullest extent provided by law and as set forth in this Agreement. The Rules. A copy of the Corporate Edition of the Rules can be purchased from NACHA at xxx.XXXXX.xxx. You agree to obtain a copy, to understand and be familiar with the Rules, and to be responsible for keeping up to date with changes in the Rules. You agree that information or advice you receive from us as to the Rules or the operation of the Rules is not legal advice and is not a substitute for your obligation independently to understand and comply with the Rules. Processing Entries. You shall transmit PPD (Prearranged Payments and Deposits) or CCD (Corporate Credit or Debit) credit or debit Entries to us in compliance with the formatting and other requirements set forth in the Rules and the Supporting Documents. The ACH Service will start on a date agreeable to us after all set up requirements have been completed. You will not submit individual or total monthly Entries in excess of the maximum limits established by us and reflected in the Supporting Documents , as amended from time to time. The parameters and variations of the limits shall be set at our discretion, including but not limited to limits based on dollar amounts and/or Standard Entry Class Code types. You will not divide a transaction into more than one Entry in order to avoid these limitations. We may adjust these limitations from time to time, at our discretion. Our processing of Entries in an amount greater than the established limit(s) shall not be deemed a waiver of this provision. We may cease processing Entries in a greater amount at any time without prior notice. You may not originate Entries using Standard Entry Class Codes other than CCD or PPD without prior notice to and written approval from us. We may require you to submit an application in form and content acceptable to us, and your execution of supplemental schedules, agreements and other documents as we may r...
ACH Service. The ACH Service will allow Customer to initiate credit and/or debit Entries through the Bank to accounts maintained at Bank and in other depository financial institutions by means of the ACH network pursuant to the terms of this Agreement and the Rules of NACHA (“NACHA Rules”) and Bank’s operating rules and procedures for electronic entries, including any exhibits or appendices thereto now in effect, or as may be amended from time to time, and Bank is willing to act as an ODFI with respect to such Entries. Customer and Bank agree that Customer shall be and remain the Originator and Bank shall be the ODFI, as those terms are defined in the NACHA Rules. This Agreement sets forth the terms and conditions pursuant to which Bank will provide to Customer the ACH Services outlined herein. Customer hereby requests Bank to provide the Services described in this Agreement. By executing this Agreement and/or using the Services described in this Agreement, Xxxxxxxx accepts and agrees to all terms, conditions, and provisions of this Agreement and agrees that this Agreement sets forth the terms and conditions pursuant to which Bank will provide to Customer the ACH Service outlined herein.
ACH Service. The ACH Service will allow Customer to initiate credit and/or debit Entries through the Bank to accounts maintained at Bank and in other depository financial institutions by means of the ACH Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and Bank’s operating rules and procedures for electronic entries, including any exhibits or appendices thereto now in effect, or as may be amended from time to time, (the "Rules"), and Bank is willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries. Customer and Bank agree that Customer shall be and remain the Originator and Bank shall be the ODFI, as those terms are defined in the NACHA Rules. This Agreement sets forth the terms and conditions pursuant to which Bank will provide to Customer the ACH Services outlined herein. Customer hereby requests Bank to provide the Services described in this Agreement. By executing this Agreement and/or using the Services described in this Agreement, Customer accepts and agrees to all terms, conditions, and provisions of this Agreement and agrees that this Agreement sets forth the terms and conditions pursuant to which Bank will provide to Customer the ACH Service outlined herein. Terms not otherwise defined in this Agreement shall have the meaning ascribed to those terms in the Rules. The term "Entry" shall have the meaning provided in the Rules and shall also mean the data received from Customer hereunder from which Bank initiates each Entry.
ACH Service. The ACH network is a funds transfer system which provides for the interbank clearing of electronic credit and debit Entries for participating financial institutions. The ACH system is governed by the National Automated Clearing House Association's ("NACHA") Operating Rules and Operating Guidelines (collectively the "NACHA Rules").
ACH Service. To the extent approved by us, the ACH Service allows you to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (“NACHA”). The ACH Service is subject to this Agreement as well as a separate ACH Service agreement entered into between you and us. In the event of any inconsistencies between this Agreement and the separate ACH Service agreement, the terms of the ACH Service agreement will control.
ACH Service. The Bank must provide ACH services for both debit and credit transactions. The Town requires the ability to generate ACH transactions for payroll transactions, vendor payments and provider transmittals. The proposal should include the methods of transmission, cut-off times, and any security features related to processing any of the above. These services MUST include ACH fraud functionality to ensure that only authorized transactions are processed. BankUnited will offer the Town ACH services for debit and credit transactions as requested. With BankUnited, the Town has multiple ways to send ACH transactions to the bank. The most common way for you to send a file is for the Town to build a NACHA file and transmit that file via FTP transmission to the bank. If the Town does not have FTP transmission capability, you can pass this file through our Online Treasury portal. If the Town does not have the capability to create a NACHA formatted file, the Town can create an ACH template within our On-line Treasury Management system and transmit directly from there. BankUnited is in the process of changing ACH processing times to add the rules of same day ACH processing. The current deadline is 8 pm EST to process a file for next day. BankUnited strongly cautions the Town that we recommend that ACH files be sent 2 days prior to settlement, especially for Payroll. If the ACH file has errors, the additional time allows for the necessary corrections to occur before it impacts your employees. If the Town decides to use our On-line Treasury Management system for passing the ACH file to the bank, BankUnited is committed to providing superior security in all your financial information and transactions. The On-line Treasury Management service contains multiple levels of security, including dual approvals, one-time passcodes, and multi-factor authentication designed to protect your data while providing control over user access to reports, accounts and services. Specific to our Wire and ACH Origination service, customers can define the approval requirements for the release of Wires and ACH batches (e.g. same user can enter and approve a batch, different user is required to approve a batch) as well as set user-level transaction limits for the dollar amount the user can input and/or approve. For the protection of the Town’s accounts, BankUnited offers ACH fraud control, a system that allows the Town to view and approve or view and reject ACH payments. Once a payment is approved, th...
ACH Service. This service option allows you to initiate debit and/or credit entries through the automated clearing house (“ACH”) network, a funds transfer system for sending and settling electronic entries among participating financial institutions. Under the ACH Service option, we act as the originating depository financial institution or "ODFI" with respect to such entries and you will be the "originator" for each of those entries. In order to initiate ACH debit and/or credit entries through this optional service, you must enter into a Treasury Management Master Agreement (the "Master Agreement") with us, agree to the ACH Origination terms and conditions within our Treasury Management Terms and Conditions (the "TM Terms") and identify the account(s) to be used for ACH Origination via the Service. By using the ACH Service option, you acknowledge that you have received a copy of, and agree to be bound by, the Business Online and Mobile Agreement, the Master Agreement, and the TM Terms. Terms that are defined in the ACH Origination terms and conditions have the same meanings when used in this Agreement. If there is any inconsistency on a particular issue between the Business Online and Mobile Agreement and the ACH Origination terms and conditions, the ACH Origination terms and conditions will control to the extent of such conflict or inconsistency. You understand and agree, however, that our agreement to allow you to initiate ACH debit and/or credit entries through the Service does not permit you to use any other aspect of the ACH Origination service unless we have agreed to include it in the implementation of your setup for the ACH Origination service. The security procedures for the ACH Service option are those that are described in this Agreement. You agree that these security procedures are commercially reasonable. The Bank strongly recommends the use of dual approval of ACH entries involving two users from different job functions. Dual approval may be established by an authorized officer who is the initial Client Security Administrator of the Customer. In order to use dual approval, you must have at least one additional user who is also an approver. Under dual approval, one user must initiate or authorize the ACH entry using Business Online, and a separate user who is an approver must approve the ACH entry. In addition, the security procedures for the ACH Service require installation and use of secure browsing software for initiation of ACH entries via Business Onl...
ACH Service. MPB agrees to act as an Originating Depository Financial Institution (ODFI) with respect to Customer initiated credit or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (NACHA) and the local ACH Association (the “Rules”). Unless otherwise defined herein, capitalized terms shall have the meanings provided in the Rules. The term “Entries” shall have the meaning provided in the Rules and shall also mean the data received from Customer hereunder from which MPB prepares Entries.
ACH Service. 62.1 This Part III applies to all transfers made using the automated clearing house (“ACH”) and associated services made available to Customer by Bank (the “ACH Service”).
ACH Service. 62.1This Part III applies to all automated clearing house (“ACH”) and associated services made available to Customer by Bank (the “ACH Service”).
