Wire Authorization definition

Wire Authorization means your authorization designated on the Credit Union’s forms, fully completed, and delivered to the Credit Union, and any supplement or amendment thereto. “Authorized User” shall mean the individual(s), if any, which you authorize or set by the Administrator. “Beneficiary” shall mean the person to be paid by a funds transfer you initiate. “Payment Account” shall mean each deposit account maintained in your name at the Bank. “Fedwire” shall mean the funds transfer system owned and operated by the Federal Reserve Bank that is used primarily for the transmission and settlement of payment orders governed by the Fedwire Regulation. ” Fedwire Regulation” shall mean Subpart B of Regulation J of the Board of Governors of the Federal Reserve System, as amended from time to time. “Payment Order” shall mean an instruction to the Credit Union, from or in your name, to pay a fixed or determinable amount of money to a Beneficiary. “Wire Security Procedures” shall mean those procedures (i) specified in the Wire Authorization; (ii) included in this Agreement; or (iii) as otherwise agreed by you and us for transmitting Payment Orders to the Credit Union and for verifying such Payment Orders upon receipt by us, as such procedures may be amended to supplemented from time to time by the Credit Union. The terms used in this Section have the meaning given to them in Article 4A of the Uniform Commercial Code.
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Examples of Wire Authorization in a sentence

  • Verification sources include one or more of the following: • Your Account authorization document(s) on file for the designated Account; • Signature card for the designated Account on file; and/or • Wire transfer authorizations delivered to Bank with the Wire Authorization Packet.

  • Before accessing the Service, you must complete, execute, and return to Bank the Wire Authorization Packet and complete the setup process.

  • Your use of the Services is governed by the Master Agreement and Schedule of Services in effect between you and Bank, the applicable Account Agreement, as well as this Service Description (including Appendices) and the Wire Authorization Packet, which are separately provided.

  • Lender, after observing numerous transfers to the same recipient and destination, may initiate the repetitive process by faxing or mailing the "Repetitive Wire Authorization Form" to the borrower for completion and return.

  • If you have not signed such an agreement and you request a wire transfer of funds at a branch or over the telephone and we agree to undertake the funds transfer, the transfer is subject to the terms and conditions of our Funds Transfer and Payment Order (Wire) Authorization.

  • The Reverse Wire Authorization shall remain in effect unless and until revoked in writing by an authorized representative of Customer and both Bank and Credit Party have each received such written notice and have had a reasonable period of time to act on such notice.

  • Bank will honor reverse transfer drafts subject to the terms of this Agreement and further subject to and conditioned upon your execution of the Reverse Wire Authorization Form or other Bank authorized documentation provided by Bank.

  • Bank will honor reverse transfer drafts subject to the terms of this Agreement and further subject to and conditioned upon Customer’s execution of the Reverse Wire Authorization Form provided by Bank or other Bank authorized documentation.

  • You must establish and maintain procedures reasonably designed to ensure the confidentiality of the Wire Authorization Codes and Security Procedures and to safeguard against unauthorized transactions.

  • Notwithstanding any provision herein to the contrary, Bank may honor any Reverse Wire request in conformance with the instructions outlined in the Reverse Wire Authorization.

Related to Wire Authorization

  • Service Authorization means that Open Ecosystem Partner needs to meet specific qualification requirements for the products included in a “Service” Product Family that Open Ecosystem Partner wants to promote and offer Services for as set out in detail in the Open Ecosystem Program Guide.

  • Private Authorizations means all franchises, permits, licenses, approvals, consents and other authorizations of all Persons (other than Governmental Authorities).

  • Sell Authorization means that Partner needs to meet specific training and qualification requirements for the products included in an “On Premise” Product Family that Partner wants to resell as set out in detail in the PartnerEdge Program Guide and the applicable RSPI.

  • Fire authority means the department, agency, or public entity with responsibility

  • ACH Authorization means the ACH Debit Authorization Agreement in substantially the form of Exhibit H.