Funds-transfer business day definition

Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.
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Funds-transfer business day of a receiving bank means the part
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Funds-transfer business day of a receiving bank means the part of
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More Definitions of Funds-transfer business day

Funds-transfer business day means each day on which commercial banks are normally open to conduct business in New York, New York.
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Funds-transfer business day of a receiving bank means the part of a 2 day during which the receiving bank is open for the receipt, 3 processing, and transmittal of payment orders and cancellations and 4 amendments of payment orders. 5 (5) 'Funds-transfer system' means a wire transfer network, automated 6 clearinghouse, or other communication system of a clearinghouse or 7 other association of banks through which a payment order by a bank 8 may be transmitted to the bank to which the order is addressed. 9 (6) 'Good faith' means honesty in fact and the observance of reasonable 10 commercial standards of fair dealing. 11 (7) 'Prove' with respect to a fact means to meet the burden of establishing 12 the fact (G.S. 25-1-201(8)). 13 (b) Other definitions applying to this Article and the sections in which they 14 appear are: 15 'Acceptance' G.S. 25-4A-209 16 'Beneficiary' G.S. 25-4A-103 17 'Beneficiary's bank' G.S. 25-4A-103 18 'Executed' G.S. 25-4A-301 19 'Execution date' G.S. 25-4A-301 20 'Funds transfer' G.S. 25-4A-104 21 'Funds-transfer system rule' G.S. 25-4A-501 22 'Intermediary bank' G.S. 25-4A-104 23 'Originator' G.S. 25-4A-104 24 'Originator's bank G.S. 25-4A-104 25 'Payment by beneficiary's bank to beneficiary' G.S. 26 25- 27 4A- 28 405 29 'Payment by originator to beneficiary' G.S. 25-4A-406 30 'Payment by sender to receiving bank' G.S. 25-4A-403 31 'Payment date' G.S. 25-4A-401 32 'Payment order' G.S. 25-4A-103 33 'Receiving bank' G.S. 25-4A-103 34 'Security procedure' G.S. 25-4A-201 35 'Sender' G.S. 25-4A-103. 36 (c) The following definitions in Article 4 apply to this Article: 37
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Funds-transfer business day means the part of the day during which the Bank is open for the receipt, processing, and transmittal of Payment Orders and cancellations and amendments of Payment Orders and Reverse Wire Transfers (if applicable).
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Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment
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Related to Funds-transfer business day

  • Exchange Business Day means any Scheduled Trading Day on which the Exchange and each Related Exchange are open for trading during their respective regular trading sessions, notwithstanding any such Exchange or Related Exchange closing prior to its Scheduled Closing Time.

  • Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

  • Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

  • Funds-transfer system means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.

  • Payment Business Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Stockholm and Frankfurt am Main and on which the Clearing System settles payments in the Issue Currency.