Sponsor Bank definition

Sponsor Bank means any BACS participant authorised to sponsor organisations as Service Users to submit data to BACS for processing.

Sponsor Bank means a federal or state chartered bank which is a member of the Visa and/or MasterCard card associations (or another Approved Bank Card System) and which processes credit and debit card transactions and provides related services on behalf of the Credit Parties.

Sponsor Bank herein means the bank as designated by PayU from time to time, which shall be responsible for processing and settlement of Off-Us Bill.

Examples of Sponsor Bank in a sentence

• In case of return of NACH transaction, a return file is generated at NPCI and the Sponsor Bank will give the return memo to customer on the strength of return reason code in return file.

• Any such resignation from the respective Escrow Collection Bank, the Public Offer Account Bank, the Refund Bank or the Sponsor Banks shall not terminate this Agreement vis-à-vis Escrow Collection Bank, the Public Offer Account Bank, the Refund Bank or the Sponsor Bank, who have not resigned, as applicable.

• It would be the responsibility of the Sponsor Bank (Branch) (refer to the bank/branch which had agreed to act as the agent of the User company i.e. utility-companies, insurance/corporations/Collection Service Provider/ Govt.

• If a User makes use of NACH/ ECS mechanism for receiving payment from the same set of beneficiaries every quarter/month or at more frequent intervals, and there is frequent return of debit NACH/ ECS, in such cases, after return of the NACH/ECS, the Sponsor Bank has the responsibility to intimate the User in addition to the Destination Account Holders regarding termination of NACH/ ECS mandate.

More Definitions of Sponsor Bank

Sponsor Bank means, in respect of any conduit lender, the sponsor bank for such conduit lender.

Sponsor Bank means the bank designatedby Paysafe, which is a Federal Reserve depository with agreements between itself, Paysafe and the Federal Reserve to electronically transfer funds between memberbanks of the Federal Reservebanking system. II.

Sponsor Bank means a banker to the Offer, which is appointed by the Company to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate, collect requests and/or payment instructions of the RIBs into the UPI Mechanism and carry out any other responsibilities in terms of the UPI Circulars.

Sponsor Bank means the Banker to the Offer registered with SEBI, which has been appointed by the Company to act as a conduit between the Stock Exchanges and the NPCI in order to push the UPI Mandate Requests and / or payment instructions of the UPI Bidders, using the UPI Mechanism and carry out any other responsibilities in terms of the UPI Circulars, in this case being AXIS BANK LIMITED.

Sponsor Bank means a bank recognized by the NPCI as a direct member of the NACH and which is acting as a sponsor for an entity that has completed the NACH User Registration Process so as to enable such entity to access/use the NACH system;

Sponsor Bank means bank nominated by the Corporation, presently the IDBI Bank, for providing banking services under the scheme.

Sponsor Bank means Xxxxx Fargo Bank, National Association, in its capacity as the lender and sponsor bank under the Sponsor Facility Agreement.