Paying Bank definition

Paying Bank means the account holding bank of the accounts, from which the funds are debited in the interbank fund transfers transaction;

Paying Bank refers to the financial institution on which a check is drawn and through which it is payable.

Paying Bank in respect of a CITS Item shall mean a CITS participant to whom an Article is drawn.

Examples of Paying Bank in a sentence

• Even if we do not initially identify an Electronic Item as an Exception Item when we review and process the Electronic Item to which the Exception Item relates, the Electronic Item, substitute check, or the purported substitute check created by us from it may nevertheless be returned to us because, among other reasons, the Paying Bank determines that such item or check is illegible or missing an image.

• The Paying Bank shall notify Monte Titoli whether it will make the payments through a RTGS or DCA account.

• The Issuer grants the mandate to the Paying Bank at the moment of requesting admission of each financial instrument to the System.

• The appointment of the new Paying Bank by the Issuer may be performed within the day before the payment date.

• The mandate will terminate starting from the effective date specified by the Paying Bank within the above-mentioned communication.

More Definitions of Paying Bank

Paying Bank means the United States financial institution ordered in an Item to make payment to the payee(s) named on the Item.

Paying Bank means a financial institution which credits the funds remitted to the payee account or pays the same to the payee.

Paying Bank means the United States Financial Institution ordered in an Item to make payment to the payee(s) named on the Item.

Paying Bank means the entity engaged by the Issuer to make the payments ordered by Monte Titoli, handled as part of the Corporate Events Support Service;

Paying Bank means the Bank who is obliged to pay the beneficiary the amount/sum of monies instructed by one to another party.

Paying Bank means the bank or building society at which a Direct Debit Instruction is lodged for a payer and that raises messages to advise of amendments or cancellations in relation to the Direct Debit Instruction.

Paying Bank means the commercial Bank acceptable to the Association selected under terms and conditions satisfactory to the Association selected to facilitate the payment to Internal Debt creditors of the Internal Debt Tranches.