Receiver Account definition

Receiver Account means the Account at the RDFI where an Originator has designated a debit or credit Entry to be applied.
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Receiver Account means the designated bank account, mobile wallet, or pre-paid card of the Receiver, as the case may be;
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Examples of Receiver Account in a sentence

  • If the RDFI does not receive payment for the Entry, the RDFI is entitled to a refund from the Receiver in the amount of the credit to the Receiver Account, and Company will not be considered to have paid the amount of the credit Entry to the Receiver.

  • Bookings utilizing EC as the form of payment that are cancelled after the initial Authorization shall have the appropriate amount, if any, refunded to the Receiver Account by means of an ACH Credit Entry according to the proportion of the Booking that was paid with EC as the form of payment.

  • If the RDFI does not receive payment for the Entry, the RDFI is entitled to a refund from the Receiver in the amount of the credit to the Receiver Account, and Third-Party Sender will not be considered to have paid the amount of the credit Entry to the Receiver.

  • Originator shall establish and maintain procedures to safeguard the privacy and security of the Receiver Account information and to safeguard against unauthorized transmissions of ACH Entries to the ODFI.

  • SJBPH shall provide the Receiver with all information necessary for the Receiver to take control of each of SJBPH’s bank accounts and to open and maintain the Receiver Account, including all login information necessary to access SJBPH’s bank accounts through the website(s) of the bank(s) where such accounts are maintained.

  • It is acknowledged that selection of the EC form of payment on a Booking created by the Receiver or on a Booking modified by MLT Accounting Operations to select EC as the form of payment upon receipt of written Authorization from the Receiver shall confer upon the Originator the right to initiate an ACH Debit Entry against the Receiver Account specified below for payment of such Bookings.

  • The minimum required information to create a new account is Receiver, Account Number, Panel Type and Panel Revision.

  • The Originator shall notify the Receiver of any reversing entry initiated to the Receiver Account to correct an entry it has initiated in error.

  • The Receiver may maintain such accounts as they currently exist, may transfer funds from the accounts to one or more different investment accounts in the name of the Receiver, or may liquidate the accounts and place the proceeds in the Receiver Account.

  • It is acknowledged that these restrictions and limitations are provided to the benefit of the Receiver and ensure that ACH Debit Entries against the Receiver Account are initiated at the sole discretion of the Receiver.

Related to Receiver Account

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • AAVS Account means the account to which your Automatic Add Value Service is linked, as defined or specified in the relevant Application Form or such other account as notified to us by the Financial Institution or by the AAVS Account Holder from time to time;

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.