Debit item definition

Debit item means an item sent to a Federal Reserve Bank by a sending institution for credit to the sending institution’s account and for debit to a receiving institution’s account.
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Debit item means an Item, which causes a reduction from a Cardholder’s Deposit Account or an extension of credit to a Cardholder.
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Debit item means an item sent to a Reserve Bank by an originator for credit to the originator's account and for debit to a recipient's account.
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Examples of Debit item in a sentence

  • If you deposit any Instrument to your Account or in effect only for a limited period as established by CIBC from time endorse any Instrument, you will be conclusively considered to to time, and that CIBC will have no liability to you or any other have (i) guaranteed the authenticity of all endorsements, and (ii) person if such Debit item is paid after the expiry of such period.

  • If your Direct Debit item is returned unpaid by your financial institution, Council may charge an administration fee (as listed on Council’s "Schedule of Fees and Charges"), plus any fee charged by Council’s financial institution.


More Definitions of Debit item

Debit item is any item, electronic funds transfer entry or other transmission or document, including Automated Clearing House (“ACH”) entries and Card transactions, by which a withdrawal, transfer or other transaction can be made or can be attempted to be made from your account.
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Debit item means an item sent to a Re­ serve Bank by an originator for credit to the originator's account and for debit to a receiver's account.
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Related to Debit item

  • Payment Item each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

  • Debit Day means the day that payment by You to Us is due.

  • Contract Item or “Contract Items” means the list of items identified in Section

  • Debit means a charge or an amount of money somebody must pay. If we debit money to you or debit money to your account, that money is then added to the unpaid balance and the unpaid balance becomes larger. In this case “charge” and “debit” have similar meanings.

  • Credit Voucher means a document executed by a Merchant evidencing any refund or price adjustment relating to Cards to be credited to a Cardholder account.