Authorization To Access Merchant’s Account Sample Clauses
The "Authorization To Access Merchant’s Account" clause grants a party, typically a service provider or payment processor, the legal right to access the merchant’s designated bank or financial account. In practice, this access may be used to deposit funds from sales, withdraw fees, or process refunds as part of the services provided. By establishing clear permission for account access, this clause ensures smooth financial transactions and reduces the risk of disputes over unauthorized transfers or withheld payments.
Authorization To Access Merchant’s Account. Merchant hereby authorizes SPS-EFT to initiate debit and credit entries to Merchant’s designated account, which is identified in the Application. Merchant’s authorization shall continue in effect for at least 180 days after termination of this Agreement, or for such longer period as determined by SPS-EFT, in its sole discretion, to be necessary to properly terminate business.
Authorization To Access Merchant’s Account. MERCHANT hereby authorizes Paya-EFT to initiate debit and credit entries to MERCHANT’S designated account. MERCHANT’s authorization shall continue in effect for at least 120 days after termination of this ACH Agreement, or for a longer period as determined necessary by Paya-EFT in the exercise of its sole discretion in order to properly terminate business. Unless a reserve or delay is placed on the MERCHANT’S account, Paya-EFT will generally transmit settlement to MERCHANT’s bank within 7 business days. In cases where MERCHANT has been approved by Paya-EFT in advance to initiate credit entries, the debit to MERCHANT's account will be initiated first and the credit to the customer may be held until MERCHANT's debit clears, generally within 6 banking days or for a longer period as determined necessary by Paya-EFT to insure the funds have cleared MERCHANT's account. With respect to the Services, (i) settlement shall consist of a 7 banking day net settlement unless approved in advance by Paya-EFT in writing settlement shall consist of a 7 banking day net settlement unless approved in advance by Paya-EFT in writing; and (ii) No MERCHANT or customer is authorized to initiate a customer credit Entry, except where the Entry is the result of a reversal of a previous WEB debit Entry. Returns received after a transaction has been settled may be offset and deducted from current outstanding funds due to MERCHANT, or returns may be charged back to MERCHANT's account at Paya-EFT's discretion. ▇▇▇▇▇▇▇▇ specifically authorizes Paya-EFT to debit MERCHANT's account via Automated Clearing House (ACH) transfer for any previously funded transaction that is returned, and MERCHANT warrants to Paya-EFT that MERCHANT will maintain a sufficient balance to cover return entries and to promptly notify Paya-EFT of any changes to MERCHANT's accounts. In addition, Paya-EFT may require additional monetary sums for the reserve account from MERCHANT, and Paya-EFT reserves the right to hold additional monies as necessary to reduce any risk associated with the daily processing of checks, as requested by MERCHANT. In the event of processing termination, Paya- EFT may hold outstanding funds due to MERCHANT for up to one-hundred-twenty (120) days from the transaction date if Paya-EFT determines that the return history reasonably justifies the holding of funds. Paya-EFT may hold back certain amounts where Paya-EFT is investigating a transaction for breach of warranty or transactional requirements ...
Authorization To Access Merchant’s Account. Merchant hereby authorizes GETI to initiate debit and credit entries to Merchant’s designated account, which is identified in the Application. Merchant’s authorization shall continue in effect for at least 180 days after termination of this Agreement, or for such longer period as determined by GETI, in its sole discretion, to be necessary to properly terminate business.
Authorization To Access Merchant’s Account. MERCHANT hereby authorizes GETI to initiate debit and credit entries to MERCHANT’S designated account. MERCHANT’s authorization shall continue in the MERCHANT’S account, GETI will transmit settlement to MERCHANT’s bank by the fourth bank business day following the day MERCHANT batches out a GETI approved check imaging device’s transactions. transactional requirements by MERCHANT or for other reasons. GETI shall monitor MERCHANT’s transactional activity and ▇▇▇▇▇▇▇ protect against amounts owed GETI or based on MERCHANT’s financial condition. GETI will not be liable for any dishonor of any name is printed on the face of the check or the customer’s authorized representative prior to crediting Customer. The custome the MERCHANT’s ordinary course of business and that the amount of the check evidences the customer’s total indebtedness for t – ck processing; (p) all of MERCHANT’S business locations engage in the business activity listed on the face of this Agreement; MERCHANT, nor any of its employees have submitted checks drawn from their personal checking accounts on the MERCHANT’s GETI a be collected by GETI by a debit to MERCHANT’S designated account initiated by GETI as provided in this Agreement. If for any
Authorization To Access Merchant’s Account. Merchant hereby authorizes GETI to initiate debit and credit entries to Merchant’s designated account, which is identified in nt’s authorization