ACH Debit Entry definition

ACH Debit Entry means an electronic instruction requesting the withdrawal of funds from your account through ACH.
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ACH Debit Entry. Refers to an Automated Clearing House Item that results in a debit to your Account. Affiliate: Refers to a company we own or control, a company that owns or controls us, or a company that is owned or controlled by the same company that owns or controls us. Ownership does not mean complete ownership, but means owning enough to have control. Authorized Signer: Refers to any person whose signature appears on the Master Deposit Agreement covering an Account or whom you authorize with or without our knowledge to effect any transactions on your Account.
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ACH Debit Entry means an electronic instruction sent by you ( “Originator”) through us as ODFI to the RDFI of the party from who you are requesting payment to pay an amount from the Receiver’s deposit account, based on a prior authorization given by the Receiver to you.
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Examples of ACH Debit Entry in a sentence

  • Customer authorizes Xpress to initiate an electronic ACH Debit Entry from Customer’s bank account provided in Exhibit C on or about the 5th day of each month for the amount of all Fees that accrued during the prior month for any service, support, or maintenance Fee that is due as described in Exhibit A.

  • Any ACH Debit Entry that is paid in accordance with the Service shall be considered properly payable and Customer agrees that Bank shall have no liability to Customer for paying ACH Debit Entry in accordance with the Service.

  • You acknowledge and agree that this rule has a sixty (60) day return timeframe from the Settlement Date of the respective ACH Debit Entry.

  • In the event it is determined that the ACH Debit Entry is revoked, unauthorized or involves the improper use of a source document and/or the amount thereof, we will ask you to provide us with a written statement under the penalty of perjury and will return the ACH Debit Entry accordingly.

  • You acknowledge and agree that it is solely your responsibility to provide us with the information required to process your stop payment request to verify that we have not paid or otherwise processed the ACH Debit Entry or Recurring Electronic Transfer for which you are requesting a stop payment order.

  • You agree that we will not be liable to you if you provide us with any incorrect information, or if you request a stop payment on an ACH Debit Entry or Recurring Electronic Transfer we have already paid.

  • Under such circumstances, a written notice to you is not required in accordance to the NACHA Operating Rules as long as the ACH Debit Entry is within the agreed upon range.

  • Such notice must be sent to you within 10 calendar days from the date on which the ACH Debit Entry is scheduled to take place.

  • The requirements of this rule are that you have no prior knowledge, on any level, with respect to the ACH Debit Entry or that the source document, or amount thereof, is improper or not accurately reflected.

  • For example, if the ACH Debit Entry in question occurred on the 15th of the month and your Account statement is mailed or made available to you on the 30th of the month, you only have 45 days left on which to report the issue.

Related to ACH Debit Entry

  • ACH means automated clearing house transfers.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Debit means a charge or an amount of money somebody must pay. If we debit money to you or debit money to your account, that money is then added to the unpaid balance and the unpaid balance becomes larger. In this case “charge” and “debit” have similar meanings.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;