Merchant Account. Paymentus will arrange for the Client to have a merchant account with the Paymentus Authorized Processor for processing and settlement of the credit card transactions.
Merchant Account. Merchant agrees to maintain a commercial demand deposit checking account designated by Merchant for use in conjunction with ECT services. Merchant agrees to immediately reimburse EZCheck and ODFI for any shortfalls that occur due to non‐sufficient funds in Merchant Account that are covered by EZCheck. Merchant also agrees to authorize EZCheck to suspend crediting of ECT transactions to Merchant Account, without prior notice to Merchant, if Merchant should breach or fail to comply with any terms of this Agreement, or if either EZCheck or ODFI in its sole opinion deems itself at risk relative to any services performed under this Agreement.
Merchant Account. Merchant shall maintain a checking account at a financial institution of Merchant's choice for purposes of electronic settlement of transactions. This checking account must accept debit and credit ACH Transactions.
Merchant Account. 8.1 To benefit from any of the Desjardins Payment Services, the Merchant must have and maintain an account at the Canadian financial institution it identified when the Application Form was completed. The Merchant may also hold other accounts for the same purposes, which shall then be deemed to form part of a single Merchant Account for the purposes of this Agreement. However, the Merchant must have a Merchant Account for each of its addresses.
Merchant Account. If You change the Merchant Account without Processor’s prior written consent, Processor may immediately terminate the Agreement for cause and may take any other action it deems reasonably necessary, in its sole discretion, to protect itself and Bank.
Merchant Account. All of Your obligations regarding accepted Sales Drafts will survive termination of this Agreement. You must maintain in the Merchant Account and the Reserve Account enough funds to cover all chargebacks, deposit charges, refunds and fees incurred by You for a reasonable time, which shall be no less than 270 days, unless otherwise agreed in writing by Processor and Bank. You authorize Processor to hold all funds due to You at the time of termination for at least 270 days and to apply those funds to satisfy your obligations under this Agreement. You authorize Processor and Bank to charge the Merchant Account, Reserve Account, or any other account maintained under this Agreement, for all such amounts. If the amounts available in the Merchant Account and Reserve Account are not adequate to satisfy your obligations to Processor or Bank, You will pay Processor and Bank the amount you owe upon demand, together with all costs and expenses incurred to collect the amount, including reasonable attorneys’ fees, costs and expenses and arbitrator fees, costs and expenses.
Merchant Account. First Billing will arrange for the Client to have a merchant account with the First Billing Authorized Processor for processing and settlement of Card transactions (a “Merchant Account Set- up”).
Merchant Account. If Alternate Funding is selected on the Merchant Application but you are not approved by NPC to receive Alternate Funding, you will be set up with Premium ACH for your deposit timeframe. If Alternate Funding is selected on the Merchant Application and you are approved for Alternate Funding, and neither NPC nor Member Bank has placed your account on hold, Member Bank will generally initiate an ACH of settlement funds due to you, subject to the terms of this Agreement, to the Merchant Account the business day (which, for purposes herein, will mean any day on which the Federal Reserve is open for business, other than Sundays or State or Federal holidays) after Member Bank processes such transactions, provided that Member Bank successfully receives the complete transaction data by the applicable cut off time. Notwithstanding the foregoing, neither NPC nor Member Bank will be liable to you if an ACH of your settlement funds is not initiated within such one business day time period. NPC and/or Member Bank may change your deposit time frame from Alternate Funding to Premium ACH at any time and without advance notice to you. NPC and/or Member Bank may, within their sole discretion, delay your settlement payments for up to seven (7) days, which period will begin after the settlement payments were received by NPC and Member Bank. In this event, you acknowledge that NPC and/or Member Bank will, and you expressly authorize NPC and/or Member Bank to, delay your settlement payments for up to seven (7) days. This delay of your settlement funds does not preclude NPC and/or Member Bank from exercising their right to establish a Reserve Account or to suspend payments pursuant to Section 5 or Exhibit A of this Agreement. The settlement payments will begin to be credited to your Merchant Account, less any monies owed NPC and Member Bank, on the next business day following expiration of this rolling delay period. This rolling delay of the settlement payments will be ongoing and continue as long as NPC is providing your processing services. In addition, Member Bank has a right to delay, within its discretion or at the request of NPC, crediting the Merchant Account with funds evidenced by submitted Sales Drafts. You are responsible for verifying the amount of funds actually deposited to and available in your Merchant Account on a daily basis. Neither NPC nor Member Bank are responsible for the availability of funds represented by submitted Sales Drafts, or for any charges you ma...
Merchant Account. All of your obligations regarding accepted Sales Drafts will survive termination of this Agreement. You must maintain in the Merchant Account and the Reserve Account enough funds to cover all chargebacks, deposit charges, refunds and fees incurred by You for a reasonable time, which shall be no less than two- hundred seventy (270) days, unless otherwise agreed in writing by Processor and Bank. You authorize Processor to hold all funds due to You at the time of termination for at least two-hundred seventy (270) days and to apply those funds to satisfy your obligations under this Agreement. You authorize Processor and Bank to charge the Merchant Account, Reserve Account, or any other account maintained under this Agreement, for all such amounts. If the amounts available in the Merchant Account and Reserve Account are not adequate to satisfy your obligations to Processor or Bank, You will pay Processor and Bank the amount You owe upon demand, together with all costs and expenses incurred to collect the amount, including reasonable attorneys’ fees, costs and expenses and arbitrator fees, costs and expenses.
Merchant Account. Company will credit or debit the Merchant Account via ACH the net amount due to you. All sales slips are subject to audit and final checking by Company, and may be adjusted for inaccuracies. You authorize Company to debit via ACH the Merchant Account for any amounts owed under this Agreement. You will provide Company with 5 days advance notice of any change to the Merchant Account.
