ACH Services. 1. M&I shall act as Customer's agent for initiating and transmitting ACH Entries to the appropriate ACH Operator. In addition, M&I shall act as Customer's agent for receiving ACH Entries from an ACH Operator. For all ACH Entries initiated by M&I pursuant to this Agreement, Customer, and not M&I, shall be the ODFI when M&I receives payment instructions directed to Customer's routing number from an Originator, or the RDFI when M&I receives ACH Entries directed to Customer's routing number from an ACH Operator.
Appears in 4 contracts
Samples: Outsourcing Agreement (Jacksonville Bancorp Inc /Fl/), Outsourcing Agreement (Lehigh Acres First National Bancshares Inc), Outsourcing Agreement (Florida Business Bancgroup Inc)
