A transaction account definition

A transaction account means a current account or a giro account regulated by the Payment System Act, and it can be a single-currency or a multi-currency account.
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Examples of A transaction account in a sentence

  • A transaction account is defined as an account from which an account holder may make transfers or withdrawals by negotiable or transferable instrument, payment order or withdrawal, telephone transfer, or other similar device for the purpose of making payments or transfers to third persons or others.

  • A transaction account may relate to only one SmartMortgage facility.

  • Eligible Transaction Account A transaction account from which your payments will be debited, your Service fees will be automatically debited, or to which payments and credits to you will be credited.

  • In these conditions, the following words and expressions shall have the following meanings: Account: A transaction account of the client with the Company.

Related to A transaction account

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.