Merchant Bank Account definition

Merchant Bank Account means an account in your name with a duly authorised credit institution acceptable to us that is maintained by you for the purposes of receiving Remittances and paying your Fees due to us in accordance with clause 4.1;

Merchant Bank Account means a Ringgit Malaysia account held by, in the name of, and maintained by the Merchant at a licensed financial institution or bank in Malaysia and recognised and acceptable to TNGD;

Merchant Bank Account has the meaning given to it in clause 6.3.

Examples of Merchant Bank Account in a sentence

• The rental fees and any repair or replacement charges payable by you for Terminals supplied by Elavon will be debited to the Merchant Bank Account on a monthly basis by direct debit.

• In addition, we may require you to keep your Merchant Bank Account or Global Account or other accounts with Airwallex available for any open settlements, Chargebacks and other adjustments.

• Settlement Payments subject to a Reserve are not immediately available for payment to your Merchant Bank Account or Global Account (as applicable) for making Refunds.

• Merchant is solely liable for all fees and costs associated with Merchant Bank Account and for all overdrafts.

• Merchant agrees not to close the Merchant Bank Account without giving Tyler at least thirty (30) days’ prior written notice and substituting another bank account.

More Definitions of Merchant Bank Account

Merchant Bank Account means the bank account which You are required to maintain pursuant to clause 10.1;

Merchant Bank Account means the Merchant’s account maintained with the Merchant Bank;

Merchant Bank Account means the bank account where funds due to the Merchant will be settled by a MontyPay Partner;

Merchant Bank Account means the Merchant’s account that with a South African Bank;

Merchant Bank Account means the Merchant’s nominated bank account as specified in the Online Application or Master Services Agreement (as applicable) to which Settlement Payments can be paid; Micro-enterprise means an enterprise (i.e. any person engaged in an economic activity, irrespective of legal form) which employs fewer than 10 persons (full time or equivalent) and whose annual turnover and/or annual balance sheet total does not exceed EUR 2 million or the sterling equivalent or as defined in the PSRs 2017 from time to time; MID means merchant identifier; Net Settlement Amount means as defined in Clause 6.3 Network means any scheme governing the issue and use of Cards, or as may be approved and notified by us to you in writing from time to time;

Merchant Bank Account means the bank account which the Merchant is required to maintain pursuant to clause 11.1 of these Terms and Conditions;

Merchant Bank Account means a business checking account established by Merchant at Bank through which Merchant authorizes EIRTH to settle all UnionPay transactions, or other payment option methods, electronically by an ACH system. Merchant shall not block or otherwise prevent EIRTH from debiting all amounts owed to EIRTH from the Merchant Bank Account. In the event, any debit or other charges are not honored by the Merchant’s Bank, the Merchant hereby gives EIRTH the right to offset any such debt owed to EIRTH from the Merchant’s Volume prior to settlement.