Third Party Sender means an organization that is not an Originator that has authorized an ODFI or a third party service provider to transmit, for its account or the account of another Third Party Sender, a Credit Entry, Debit Entry or non-monetary Entry to the Receiver's account at the RDFI.
Third Party Sender means a person that performs functions related to the origination of ACH Entries on behalf of another business organization, and as such term is more specifically defined in the ACH Rules.
Third Party Sender has the meaning set forth in Section 2.3.
Examples of Third Party Sender in a sentence
No. Failure of an Originator to fund its credit file is not a valid reason for the Third- Party Sender to reverse the file.
Additionally, a Third Party Sender must perform all obligations under the ACH Rules.
The Participating DFI, Third-Party Service Provider or Third Party Sender must retain proof that is has completed an audit of compliance in accordance with these rules.
Customer warrants to Bank that the Third Party Sender has agreed to assume the responsibilities of an Originator under NACHA Rules and that ACH Entries shall not be initiated in violation of laws of the United States.
Originating Financial Institutions will obligate an Originating Company or Third Party Sender through the warranties in their ACH origination agreement or terms & conditions.
More Definitions of Third Party Sender
Third Party Sender means a type of Third-Party Service Provider that acts on behalf of the Originator only. In other words, it is an intermediary between the Originator and the ODFI. In this type of relationship, there is generally no contractual agreement between the ODFI and the Originator.
Third Party Sender has the meaning assigned to such term in the NACHA Rules and includes a third party service provider that acts as an intermediary in transmitting ACH Transaction entries between an originator (in this case, Sub-Merchant) and a financial institution, acting on behalf of the originator.
Third Party Sender means any Customer other than an Originator that has authorized the Bank or another Third-Party Service Provider, for its own account or the account of another Third-Party Sender, to transmit Entries in order to affect a payment between the Originator and the Receiver.
Third Party Sender means a Person that performs functions related to the origination of ACH Entries on behalf of another business organization, and as such term is more specifically defined in the ACH Rules.
Third Party Sender means a person that is not an Originator, that has authorized an ODFI or another Third Party Sender to transmit, for the account of the Third Party Sender or another Third Party Sender, (i) a credit entry to the account of a Receiver with an RDFI, or if the Receiver is also the RDFI, to such Receiver, in order to effect a payment from the Originator to the Receiver, or (ii) a debit entry to the account of a Receiver, or if the Receiver is also the RDFI, to such Receiver, in order to effect a payment from the Receiver to the Originator.
Third Party Sender means a Person that is not an Originator that has authorized an ODFI to transmit, for its account or the account of another Third Party Sender, (a) a Credit Entry to the Receiver’s deposit account or loan account with an RDFI or the RDFI’s general ledger account, or, if the Receiver is also the RDFI, to such Receiver’s account, in order to effect a payment from the Originator to the Receiver, (b) a Debit Entry to the Receiver’s deposit account or general ledger account, or, if the Receiver is also the RDFI, to such Receiver’s account, in order to effect a payment from the Receiver to the Originator, or (c) Non-Monetary Entry with respect to its account or the account of another Third Party Sender.
Third Party Sender means PayNearMe when PayNearMe is acting as an intermediary between the company originating the ACH payment and the Originating Depository Financial Institution (ODFI) of that Transaction.