BEFTN definition

BEFTN means a funds transfer system operator governed by the Rules of the BEFTN Membership which provides for the inter bank clearing of electronic entries for participating Banks.
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BEFTN means electronic payments and collection system that moving funds between different accounts in the different banks operated by Bangladesh Bank through Originating Bank and Receiving Bank.
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Examples of BEFTN in a sentence

  • Both the bank and the Originator undertake to keep information received from each other in course of operation in BEFTN confidential i.e. not to disclose any information without other party’s prior permission.

  • Bank shall have no responsibility to reinitiate any returned entries until Originator remakes such entries in accordance with the BEFTN Rules.

  • To make a BEFTN transaction through PIB, the Customer has to choose the local beneficiary option from the "Transfer" drop down list.

  • The Customer can view the terms and conditions of the BEFTN agreement by clicking the BEFTN agreement link available at the top of the “Local Beneficiary Transfer (BEFTN)” page inside PIB.

  • This second verification can be submitted by electronic mail or facsimile with signature to Bank’s BEFTN Department.

  • The data file containing debit entry information will transmitted to Bank BEFTN Department by 3:00 p.m. one business day before the settlement date of the subject Entries.

  • To agree with the BEFTN agreement, Customers must send message using "Contact Centre"> "Send Message" option from the left-hand menu of their PIB profile declaring: "I have read and understood the BEFTN Agreement and have agreed with all the Terms & Conditions specified in BEFTN Agreement".

  • This includes reimbursement by the Originator to Bank of any fines imposed on Bank due to breaches of the BEFTN Rules by the Originator.

  • Originator’s exclusive remedies for any and all claims related to the services provided hereunder shall be limited to the amount recoverable by bank from the BEFTN system operator, or any other sub member pursuant to the BEFTN rules or any applicable indemnity agreement.

  • Provisions may be made for holding accounts to be maintained for posting of any return debit items received, as stated in this agreement and abiding by the BEFTN Rules.

Related to BEFTN

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  • Graham + Sibbald /"we"/"us"/"our" means Graham + Sibbald LLP, a limited liability partnership incorporated in Scotland (Registered Number SO307130) and having its registered office address at Seabraes House, 18 Greenmarket, Dundee, DD1 4QB.

  • Watcher means a voting poll watcher, a counting poll watcher, an inspecting

  • SAMR means the State Administration for Market Regulation of the PRC or, with respect to the issuance of any business license or filing or registration to be effected by or with the State Administration for Market Regulation, any Governmental Authority which is similarly competent to issue such business license or accept such filing or registration under the Laws of the PRC.

  • THCA or "Δ9-THCA" means the acid form of THC.