Loop Account definition

Loop Account means a bank account held by a Customer with the Bank and which is opened and operated in accordance with these Terms and Conditions;
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Loop Account shall be used construed accordingly;
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Examples of Loop Account in a sentence

  • As a holder of the Loop Account, you may place money with the Bank on deposit for a maturity period of anywhere from three (3) months to twelve (12) months or such shorter or longer period as will be determined by the bank from time to time.

  • If your Loop Account has any credit balance at the time of its closure, we will return any such balance to you, less any applicable fees.

  • You hereby agree to pay costs, fees, charges and expenses incurred by the Bank in obtaining or attempting to obtain payment of any loan owed or any other amount due under your Loop Account.

  • The Debit Cardholder’s obligations with respect to the Loop Account accounts hereunder are payable to the Bank by the Debit Cardholder and are subject to the local laws (including, without limitation, any governmental acts, orders, decrees and regulations, including fiscal and exchange control regulations).

  • Any unauthorized access to your Loop Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.

  • As a holder of the Loop Account, you may, subject to these Terms and Conditions, apply for a loan from the Bank using the Loop Account menu on your Equipment.

  • You may only open a Loop Account by making an application electronically using your Equipment.

  • Failure to provide such information within the time required by the Bank may result in the Bank declining to accept your application for a Loop Account or the Bank suspending or discounting the Services.

  • In the event of the Loop Account being overdrawn, the Bank reserves the right to set off overdrawn amounts against any credit lying in any of the Debit Cardholder’s other accounts without giving any notice.

  • Whereas the repayments for any debt may be accepted from the Customer at any branch, the same shall for purposes of this agreement be deemed payable electronically through deposits made into the Customer’s Loop Account.

Related to Loop Account

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.