Fedwire transfer definition

Fedwire transfer. ’ means any transaction originated by a person and utilizing the national electronic payment system to transfer funds through the federal reserve banks, when that person debits his or her own bank account and credits the state’s bank account. Electronic fund transfers pursuant to this section may be made by Fedwire only if payment cannot, for good cause, be made according to subdivision (a), and the use of Fedwire is preapproved by the department. Banking costs incurred for the Fedwire transaction charged to the person and to the state shall be paid by the person originating the transaction.
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Examples of Fedwire transfer in a sentence

  • If Owner is also the Responsible Utility, at the discretion of Owner payments to it may be made by memorandum account instead of Fedwire transfer or ACH.

  • In the case of other electronic fund transfers, you are bound by any rules then in effect governing the use of any system through which the funds may be transmitted, including Federal Reserve Board Regulation J (in the case of a Fedwire transfer) and the Clearing House Interbank Payments System (CHIPS), as applicable.

  • You agree that Peoples Bank may use any means or routes which we in our sole discretion consider suitable to execute your transfer including, without limitation: Automated Clearing House transfer (“ACH”), Fedwire transfer (a funds transfer system operated by the Federal Reserve Banks), through Clearing House Interbank Payments System (a funds transfer system operated by The Clearing House); through Society for Worldwide Interbank Financial Telecommunication (SWIFT) or by check.

  • All payments by Fedwire transfer of immediately available funds, identifying the name of the Issuer (and the Credit, if any), the Private Placement Number preceded by "DPP" and the payment as principal, interest or premium, in the format as follows: BBK = ▇▇▇▇▇▇ Trust and Savings Bank ABA #▇▇▇▇▇▇▇▇▇ BNF = Allstate Life Insurance Company Collection Account #▇▇▇-▇▇▇-▇ ORG = THC Systems, Inc.

  • Not later than the fifteenth (15th) Day of each month of each Partnership Fiscal Year, the Partnership shall pay to TCO, in cash or by good certified or official bank check or by Fedwire transfer of immediately available funds, an amount equal to the excess, if any, of (i) the cumulative Guaranteed Payment on all Preferred Equity, over (ii) the sum of all prior payments made to TCO pursuant to this Section 5.3, such amounts to be paid in the priorities, if any, set forth in the applicable series.

  • All payments by Fedwire transfer of immediately available funds, identifying the name of the Issuer (and the Credit, if any), the Private Placement Number preceded by "DPP" and the payment as principal, interest or premium, in the format as follows: BBK = ▇▇▇▇▇▇ Trust and Savings Bank ABA #▇▇▇▇▇▇▇▇▇ BNF = Allstate Insurance Company Collection Account #▇▇▇-▇▇▇-▇ ORG = THC Systems, Inc.

  • Payment to Seller on the Closing Date shall be made by a Fedwire transfer no later than 11 a.m. Pacific Time in immediately available U.S. dollars to an account designated in writing by Seller.

  • At such closing, the purchasing Partner(s) shall pay the purchase price payable by it(them), at the option of the purchasing Partner(s), by good certified or official bank check payable to the order of the selling Partner(s) or by Fedwire transfer of immediately available funds.

  • Payments shall be remitted no later than 11 a.m. Pacific Time by a Fedwire transfer in immediately available U.S. dollars to an account designated by the party to which payment is due.

  • Client shall maintain one bank account for the transfer of funds via Automated Clearing House (“ACH”) payments or Fedwire transfer to pay and deposit all amounts due or otherwise required to be deposited as provided under this Agreement, including as required under Sections 8(a)(i) and 8(a)(vi) of these General Terms and Conditions (the “Client Bank Account”).