FTNI definition

FTNI means Financial Transmission Network, Inc., which is the company contracted by WorkWave to provide certain data processing and support services related to Check Image Transactions and RDC. “MICR line” and “magnetic ink character recognition line” mean the numbers, which may include bank routing number, account number, Check number, Check amount and other information, that are printed near the bottom of a Check in magnetic ink in accordance with the American National Standard Specifications ANS X9 and its specifications as may be amended from time to time.
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Examples of FTNI in a sentence

  • Sub-Merchant will not use the Check Image Transaction processing services or RDC Services in any manner or in furtherance of any activity that constitutes a violation of any law or regulation or that may reasonably be expected to subject WorkWave, FTNI, Financial Institution, or either of their vendors to investigation, prosecution or legal action.

  • Sub-Merchant acknowledges and agrees that it may not use the Check Image Transaction processing services or RDC Services in any manner or in furtherance of any activity that constitutes a violation of any law or regulation or that may reasonably be expected to subject WorkWave, FTNI, or their respective vendors to investigation, prosecution or legal action.

  • To the extent that FTNI is required to indemnify any receiver, RDFI (as defined in the NACHA Operating Rules) or other third party in respect of such Entries FTNI processes on behalf of Sub-Merchant, Sub-Merchant agrees to reimburse FTNI.

  • If Sub-Merchant so elects, Sub-Merchant shall be responsible for any special warranties or indemnities that FTNI is required to make under the NACHA Operating Rules as to such Entries.

  • WorkWave will, if necessary to provide Check Image Transaction processing services, utilize the services of FTNI as well as WorkWave’s chosen Financial Institution.

  • Any fines or liabilities imposed against WorkWave, FTNI, or Financial Institution for a violation of the NACHA Operating Rules caused by an action and/or inaction of Sub-Merchant will be assessed against Sub-Merchant.

  • Sub-Merchant may elect to have FTNI, through WorkWave, process Entries using FTNI’s designated partner settlement account.

  • Sub-Merchant acknowledges and agrees that FTNI is an intended third party beneficiary of this Appendix 3.

  • Any fraudulent activity, wrongful or unauthorized use of the Check Image Transaction processing services or RDC Services, or submission of information, instructions, debits, credits or other data entered incorrectly or fraudulently and/or resulting in claims against Sub-Merchant, WorkWave or FTNI including by any third party who has gained access to the Check Image Transaction processing services or RDC Services through the use of Sub-Merchant’s password.

  • Sub-Merchant agrees to comply with all relevant data security requirements (including, but not limited to, those requiring the use of encryption technology where ACH information is transmitted over unsecured networks such as the internet other than through an application certified by FTNI).