Funds Transmission a) We are a licensed money transmitter under the laws of various U.S. states. Click here for more information regarding the state money transmission licenses that we maintain.
b) You acknowledge that:
1. we are not a bank;
Funds Transmission. The aggregate amount of such deductions by the City shall be transmitted monthly to the President of the Union or his or her designee. The City shall provide the President of the Union or his or her designee with a list each month indicating the dues deducted from the pay of any represented unit employee and those employees for whom no deduction was made pursuant to the provisions of Sections 5.2 and 5.
Funds Transmission. (a) We are a licensed money transmitter under the laws of various U.S. states. Click here for more information regarding the state money transmission licenses that we maintain.
(b) You acknowledge that:
(i) we are not a bank;
(ii) funds in the process of transmission from a sending Member to a Recipient through the Program may not be deemed to be deposits of Skrill USA, the Bank or any financial institution;
(iii) funds in the process of transmission or your Account may be eligible for federal deposit insurance, subject to compliance with applicable FDIC regulations;
(iv) we do not act as an trustee, or escrow holder with respect to funds in the process of transmission between a Member and any Recipient or in connection with the funds balances on deposit with the Bank; and
(v) you have irrevocably assigned to us any interest or other earnings that may accrue on your Stored Value Balance in consideration for the services provided hereunder.
Funds Transmission. To the extent Patriot services are construed as an agency relationship under State Law, Patriot’s agency and liability is limited to transmission of funds received in payment of a Customer obligation, per Customer instruction, subject to the terms and conditions of this agreement.
