Return Entry definition

Return Entry means an Entry that cannot be processed and is being returned by the RDFI to the ODFI for correction or re-initiation.

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Return Entry or “Return Entries” means any item, which cannot be processed and is being returned by the RDFI to the ODFI for correction or re-initiation. “Rules” means the by-laws, operating regulations and/or all other rules, guidelines, policies and procedures of VISA, MasterCard, Discover, American Express and/or other networks, and all other applicable rules, regulations and requirements of Member Bank, Fattmerchant, providers, banks, institutions, organizations, associations, or networks which govern or affect any services provided under this Agreement, and all state and federal laws, rules and regulations which govern or otherwise affect the activities of Sub-Merchant, including, but not limited to, those of the National Automated Clearing House Association (“NACHA”) and the Federal Trade Commission (“FTC”), as any or all of the foregoing may be amended and in effect from time to time, and the regulations and requirements of Member Bank or Fattmerchant.

Return Entry or “Return Entries” means any item, which cannot be processed and is being returned by the RDFI to the ODFI for correction or re-initiation. “Rules” means the by-laws, operating regulations and/or all other rules, guidelines, policies and procedures of VISA, MasterCard, Discover, American Express and/or other networks, and all other applicable rules, regulations and requirements of Member Bank, American Payments Solutions LLC Systems providers, banks, institutions, organizations, associations, or networks which govern or affect any services provided under this Agreement, and all state and federal laws, rules andregulations which govern or otherwise affect the activities of Sub-Merchant, including, but not limited to, those of the National Automated Clearing House Association (“NACHA”) and the Federal Trade Commission (“FTC”), as any orall of the foregoing may be amended and in effect from time to time, and the regulations and requirements of Member Bank or American Payments Solutions LLC.

Examples of Return Entry in a sentence

• In the event any Entry is returned in accordance with the Rules by a Receiving Depository Bank after Fattmerchant has provided credit, Merchant shall, upon demand, repay Fattmerchant the amount of the Return Entry.

• In the event any Entry is returned in accordance with the Rules by a Receiving Depository after Bank has provided credit, Company shall, upon demand, repay Bank the amount of the Return Entry.

• Bank shall have no obligation to re-transmit a Return Entry if Bank complied with the terms of this Agreement with respect to the original Entry.

• Customer has the right to dishonor the original Return Entry, if it can be proven that the Return Entry is a misrouted return, duplicate return, untimely return, return has one or more field errors or if the return item was not requested by the Originator.

• If an RDFI returns a prenotification, then Customer shall not initiate any Entries to the particular Receiver’s account without making corrections necessitated by the Return Entry, and if the prenotification results in the receipt by Bank of a Notification of Change (“NOC”), Customer shall initiate no additional Entries to the account of the particular Receiver until the requested changes contained in the NOC have been made by Customer.

• To the extent WorkWave has allowed Sub-Merchant to withdraw funds related to a Return Entry and sufficient funds are not available in the Operating Account to reimburse WorkWave, Sub-Merchant will provide the immediately available funds to WorkWave in the amount necessary to reimburse WorkWave, or WorkWave will be authorized to take the outstanding funds from any Reserve that has been established.

• To the extent Fattmerchant has allowed Sub-Merchant to withdraw funds related to a Return Entry and sufficient funds are not available in the Operating Account to reimburse Fattmerchant, Sub- Merchant shall provide the immediately available funds to Fattmerchant in the amount necessary to reimburse Fattmerchant or Fattmerchant shall be authorized to take the outstanding funds from the Reserve Account if one has been established.

• Bank shall notify Company of the receipt of a Return Entry from the ACH no later than one (1) banking day after the banking day of such receipt.

• Company authorizes Bank to charge back returns to Company’s designated Account the amount of any Return Entry as soon as information is made available to Bank.

• In the event any Entry is returned in accordance with the Operating Rules by a Receiving Depository Bank after WorkWave has provided credit, Sub-Merchant will, upon demand, repay WorkWave the amount of the Return Entry.

More Definitions of Return Entry

Return Entry or “Return Entries” mean any item which cannot be processed and is being returned by the RDFI to the ODFI for correction or re-initiation. “Rules” mean the Nacha operating rules which provide a complete guide to the Rules and Regulations governing the ACH Network, and the laws, procedures, rules, regulations and definitions pertaining to any regional clearinghouse, payment card association or payment network, the Federal Reserve, FTC, ANSI and ECCHO.

Return Entry means an entry sent back by the RDFI as not completed,