Definition of Service. The Bank’s ACH Fraud Prevention Services offer Customer a selection of fraud prevention measures that may be selected by Customer to protect Customer’s Accounts from unauthorized ACH debits and credit. Customer may customize a solution to control the posting of ACH transactions to Customer’s demand deposit account(s) with Bank as an integral part of Customer’s process for validating that ACH transactions are authorized and serve a valid business purpose of the Customer. As used herein, "ACH transaction(s)" shall refer to electronic funds transfers that settle within a bank or between banks according to specified rules and procedures governed by the Federal Reserve Bank and the NACHA. "Debit Entry" shall refer to any ACH Transaction which has the intended result of removing funds from the Customer's demand deposit account(s). "Credit Entry" shall refer to any ACH Transaction which has the intended effect of depositing funds to the Customer's demand deposit account(s). Customer may enroll in one or more of the following ACH Fraud Prevention Services described below (each a “Service”).
Appears in 7 contracts
Samples: Master Agreement for Treasury Management Services, Master Agreement, Master Agreement
