Virtual Account Facility definition

Virtual Account Facility means the facility under which Virtual Accounts can be opened and maintained by the Bank for the Business under the terms of the Agreement;
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Related to Virtual Account Facility

  • 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;

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Concentration Account Bank means any bank or other financial institution at which the Concentration Account is maintained.