FUNDS TRANSFERS definition

FUNDS TRANSFERS. The terms used in this section have the meaning given to them in Article 4A of the Uniform Commercial Code - Funds Transfers (UCC 4A). This section will generally not apply to you if you are a consumer. However, even if you are a consumer, this section will apply to that part of any funds transfer that is conducted by Xxxxxxx. This section is subject to UCC 4A as adopted in the state in which you have your deposit with us. This agreement is also subject to all clearing house association rules, rules of the Board of Governors of the Federal Reserve System and their operating circulars. If any part of this agreement is determined to be unenforceable, the rest of the agreement remains effective. This agreement controls funds transfers unless supplemented or amended in a separate written agreement signed by us. A funds transfer is the transaction or series of transactions that begin with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. A funds transfer is completed by the acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's order. Generally, a funds transfer does not include any transaction if any part of the transfer is covered by the Electronic Fund Transfer Act, as amended from time to time. You may give us a payment order orally, or in writing. Third party orders must be in writing and notarized. AUTHORIZED ACCOUNT – An authorized account is a deposit account you have with us that you have designated as a source of payment, or payment orders you issue to us. If you have not designated an authorized account, any account you have with us is an authorized account to the extent that payment or the payment order is not inconsistent with the use of the account.
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FUNDS TRANSFERS means a payment order or non-value message briginated or received over Fedwire.
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Examples of FUNDS TRANSFERS in a sentence

  • FUNDS TRANSFERS - The terms used in this section have the meaning given to them in Article 4A of the Uniform Commercial Code - Funds Transfers (UCC 4A).

  • PART 210—COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH FEDWIRE (REGULATION J)Subpart A—Collection of Checks and Other Items By Federal Reserve BanksSec.

  • Stopping POS Transactions UNLESS OTHERWISE PROVIDED IN THIS AGREEMENT, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUNDS TRANSFERS, INCLUDING POS TRANSACTIONS.

  • UNLESS OTHERWISE PROVIDED IN THIS AGREEMENT, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUNDS TRANSFERS, INCLUDING POS TRANSACTIONS.

  • UNIFORM COMMERCIAL CODE FUNDS TRANSFERS AGREEMENT AND DISCLOSURE Summary and Definitions.

  • Reserved.DEDUCTIONS, ALLOTMENTS, AND ELECTRONIC FUNDS TRANSFERS 13.

  • UNLESS OTHERWISE PROVIDED IN THESE AGREEMENTS, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUNDS TRANSFERS; THEREFORE, YOU SHOULD NOT EMPLOY ELECTRONIC ACCESS FOR PURCHASES OR SERVICES UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO STOP PAYMENT.

  • ELECTRONIC FUNDS TRANSFERS & ELECTRONIC SERVICE AGREEMENT AND DISCLOSURES This section applies to payment orders and funds transfers governed by the Electronic Fund Transfer Act.

  • UCC — FUNDS TRANSFERS 410.301 may recover from the beneficiary any payment received to the extent allowed by the law governing mistake and restitution.History: 1991 a.

  • ARTICLE 12 FUNDS TRANSFERS PART 1 SUBJECT MATTER AND DEFINITIONS 554.12101 Short title.


More Definitions of FUNDS TRANSFERS

FUNDS TRANSFERS means domestic and foreign funds transfer requests.
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FUNDS TRANSFERS. The following terms shall apply to all transfers of funds (as defined by Federal Regulation J and Article 4A of the Uniform Commercial Code as set out in the Florida Statutes to or from any of your accounts with us. To the extent, the terms contained in this Agreement are different than those in any other agreement or terms of accounts; this Agreement shall control and be deemed to modify such other agreements or terms of accounts. If you request a wire transfer be made or if a wire transfer is made to your Account, the Federal Reserve Board's Fedwire may be used. Regulation J governs all Fedwire transfers and therefore, determines the rights and liabilities of the parties of the transfer. All other funds transfers may be transmitted through the Automated Clearing House (ACH) network. All ACH payments are provisional. We may give you credit before we receive final settlement of the funds transfer. If we do not receive payment for the provisional credit granted, we may charge back any provisional credit that we have given to you and the originator of the transaction will not be considered to have paid the amount of the credit to us. In that event, you authorize us to take such sum from any Account in which you have either an ownership interest or the right to withdraw. Notice of a transfer from or receipt of a transfer into your Account will be made by us on your Statement for the affected Account. We are not obligated to provide you with next day notification of transfers to your Account. You may, of course, inquire between Statements regarding transfers. You agree to examine the Statement within 14 days after the Statement is sent and immediately notify us of any discrepancy or error. If you fail to notify us within 14 days after the Statement is sent, you shall discharge and relieve us from any liability, claims, demands or expenses (including attorney's fees) in connection therewith. All wire transfers will be made according to our security procedure. The security procedure is intended to verify that an order is authorized and detect errors in the transmission or content of the payment order. The security procedures we will use are:
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FUNDS TRANSFERS. In addition to viewing account information, you may use Online Services to transfer funds between linked checking, savings, money market, and loan accounts which you hold with Pioneer Bank. You should be aware that transfers you request through Online Services will be effectuated only after a reasonable period of time for personnel of Pioneer Bank to process such request and do not occur immediately upon your request.
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FUNDS TRANSFERS means a payment order or non-value message originated or received over Fedwire.
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FUNDS TRANSFERS means a payment order or non-value messageoriginated or received over Fedwire.
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Related to FUNDS TRANSFERS

  • Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

  • Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.

  • Funds-transfer system means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.

  • Electronic Funds Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.

  • Voice Initiated Funds Transfer Instruction means any Voice Initiated Redemption or Voice Initiated Election.For the purposes of these definitions, the singular includes the plural and the plural includes the singular, unless otherwise indicated. General Exclusions - Applicable to All Insuring Clauses2. This bond does not directly or indirectly cover:a. loss not reported to the COMPANY in writing within sixty (60) days after termination of this Bond as an entirety;b. loss due to riot or civil commotion outside the United States of America and Canada, or any loss due to military, naval or usurped power, war or insurrection. This Section 2.b., however, shall not apply to loss which occurs in transit in the circumstances recited in INSURING CLAUSE 3., provided that when such transit was initiated there was no knowledge on the part of any person acting for the ASSURED of such riot, civil commotion, military, naval or usurped power, war or insurrection;c. loss resulting from the effects of nuclear fission or fusion or radioactivity;d. loss of potential income including, but not limited to, interest and dividends not realized by the ASSURED or by any customer of the ASSURED;e. damages of any type for which the ASSURED is legally liable, except compensatory damages, but not multiples thereof, arising from a loss covered under this Bond;f. costs, fees and expenses incurred by the ASSURED in establishing the existence of or amount of loss under this Bond, except to the extent covered under INSURING CLAUSE 11.;g. loss resulting from indirect or consequential loss of any nature; General Exclusions - Applicable to All Insuring Clauses(continued)h. loss resulting from dishonest acts by any member of the Board of Directors or Board of Trustees of the ASSURED who is not an Employee, acting alone or in collusion with others;

  • Transfers and “Transferred” have the correlative meanings.

  • Clearing House means a clearing house recognised by the laws of the jurisdiction in which the Shares (or depositary receipts therefor) are listed or quoted on a stock exchange or interdealer quotation system in such jurisdiction.

  • ACH means automated clearing house transfers.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Clearing Account Agreement means that certain agreement relating to clearing account services by and among Mortgage Borrower, Lender and Clearing Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to the operation and maintenance of, and application of funds in, the Clearing Account.

  • ACH Transfer ACH Transfer: BNK: BNK: ABA: ABA: ACCT: ACCT: Credit and Collections: Credit and Collections: Attn: Attn: Phone: Phone: Email: Email: REC Deliveries and Standing Orders: REC Deliveries and Standing Orders: Attn: Attn: Phone: Phone: Email: Email: With additional Notices of an Event of Default or Potential Event of Default to: With additional Notices of an Event of Default or Potential Event of Default to: Attn: Attn: Phone: Phone: Email: Email:

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Ineligible Institution has the meaning assigned to such term in Section 9.04(b).

  • Eligible Institution Any of the following:

  • Eligible Instruments means monetary assets, money market instruments and securities that are payable in Dollars only and essentially risk free as to collection of principal and interest, including U.S. Government Obligations.

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

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

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Clearinghouse means the Federal Motor Carrier Safety Administration Commercial Driver's License Drug and Alcohol Clearinghouse.

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Cash Management System shall have the meaning assigned to such term in Section 9.01.

  • Automated Clearing House or “ACH” means a national and governmental organization that has authority to process electronic payments, including, but not limited to, the national automated clearing house association and the federal reserve system.

  • Holding Account means an account:

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Wire Instructions To: _____________________________________ To: _____________________________________