Merchant DDA definition

Merchant DDA means a deposit account owned by a Merchant or Government-Merchant and established at BPPR to receive the daily deposit of paper Transaction records and/or the electronic settlement of electronic Transactions, and the withdrawal of Merchant Transaction Processing Fees and other amounts pursuant to such Merchant’s Merchant Agreement (or, in the case of a Government-Merchant, under such Government-Merchant’s Government-Merchant Agreement).
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Examples of Merchant DDA in a sentence

  • EVERTEC will collect the corresponding Merchant Transaction Processing Fees from Merchants through ACH debits to the applicable Merchant DDA on a daily or monthly basis, as appropriate pursuant to the Merchant Agreement for credit to the Operating Account.

  • This file will include the Merchant number, routing transit, Merchant DDA number, amount, reason codes and the original settlement date, and any other information required to process the ACH Return (including the relevant information regarding the Government-Merchant accounts, if applicable).

  • The Reserve Account shall be funded and maintained by BluePay withholding amounts from the Transaction settlements or by debiting funds from the Merchant DDA.

  • Processor will collect such fees through ACH debits to the applicable Merchant DDA on a daily or monthly basis, as appropriate pursuant to the Merchant Agreement, and transmit them to Bank for deposit into the appropriate Settlement Accounts.

  • Any Credit Entries that you create will be debited from the Merchant DDA in accordance with the hold period prior to the credit being distributed to your payees’ accounts.

  • In the event the Reserve Account is not sufficient to cover the items that are returned after the termination of this Agreement, BluePay will debit the Merchant DDA and other account(s) for the amounts owed.

  • The Check Writer is a third party beneficiary under this Agreement as relates to its release from liability to Merchant for any Debit Entry Transaction funds that are settled to BluePay, whether or not they are subsequently settled to the Merchant DDA.

  • A $25.00 Fee will be assessed if our debit to your Merchant DDA is returned.

  • After the hold period for Debit Entries has expired, we will credit the Merchant DDA by the amount of the Debit Entries but this credit will not be final until we have available Transaction funds.

  • If any Debit Entry is returned to us (as described in the Rules), we will debit the Merchant DDA for the amount of the returned item plus fees and costs incurred by BluePay.