Customer Funds Account the segregated bank account where we hold relevant funds corresponding to your Available Balance in accordance with the safeguarding provisions of the Electronic Money Regulations 2011;
Customer Funds Account means any Deposit Account or Securities Account held in the name of Borrower or any Subsidiary for the purpose of holding cash or Cash Equivalents on behalf of and as a custodian of any Customers for purposes of making payments to employees and/or tax payments or payments of withholding taxes required under any applicable laws on behalf of such Customers, including those laws concerning F.I.C.A., F.U.T.A., and state disability.
Customer Funds Account the segregated bank account where we hold relevant funds corresponding to your Available Balance in accordance with the safeguarding requirements of the EU 2015/2366 Directive (“PSD2”) “E-money” monetary value issued by us to your Account on receipt of funds on your behalf in our Customer Funds Account, equal to the amount of funds received;
Examples of Customer Funds Account in a sentence
All relevant funds corresponding to your Available Balance are segregated from our funds and held in the Customer Funds Account in accordance with the safeguarding requirements of the Electronic Money Regulations 2011 by law.
More Definitions of Customer Funds Account
Customer Funds Account means one or more segregated bank accounts maintained by us separately from our own funds in accordance with Applicable Law;
Customer Funds Account means any account set forth onSchedule 4.6(c) in which any Customer Funds are maintained, kept, credited or debited. “Customer Funds Shortfall” has the meaning set forth in Section 10.6 below.
Customer Funds Account means any account set forth on Schedule 4.6(c) in which any Customer Funds are maintained, kept, credited or debited.