Originator bank definition
Originator bank means either of the following:
Originator bank means a Bank which participates as a Participant, as the term is defined in the Rulebook and which receives the Credit Transfer Instruction from the Originator and acts on the Credit Transfer Instruction by making the payment to the Beneficiary Bank in favour of the Beneficiary’s account according to the information provided in the Credit Transfer Instruction and in accordance with the provisions of the Scheme as set out in the Rulebook. For the purposes of these terms and conditions the Originator Bank is ALPHA BANK CYPRUS LTD. “Reject” means the reject that occurs when a Credit Transfer is not accepted for normal execution before Interbank Settlement.
Originator bank means any bank at which an Originator maintains one or more Originator Accounts.