Account Reconciliation definition

Account Reconciliation. The member agrees to carefully review their account statement and each transaction as soon as possible. If there are any errors or discrepancies regarding checks deposited through the Service including, without limitation, unauthorized transactions, signatures or alterations, the Member agrees to promptly notify the Credit Union of such errors or discrepancies within thirty (30) days of the original Remote Deposit transaction. It is the responsibility of the member to establish and maintain procedures to safeguard against unauthorized deposits. If said member’s statement shows Remote Deposits that the member did not make, the Credit Union must be informed immediately. If the member does not tell the Credit Union within sixty (60) days after the first statement containing the problem or error is made available. The member may not get back any money lost after the sixty (60) days if the Credit Union can demonstrate that they could have prevented the unauthorized transaction if the member had informed the Credit Union in a timely fashion. Unauthorized Access; Security Procedures: The member shall be solely responsible for protecting against unauthorized access to the Service, and any and all losses and damages arising from any unauthorized access to the program. The member shall establish physical security, passwords, and other security procedures necessary to ensure the confidentiality of access features. The member shall make such procedures and security features known only to them. The Credit Union shall have no obligations, liability, or control, either directly or indirectly over said procedures, or the failure of said member to maintain said procedures. Furthermore, the member agrees to, and understands that, the use of passwords and the Credit Union service instructions is confidential and agrees to assume all risks of accidental disclosure or inadvertent use by any part whatsoever, whether such disclosure of use are on account of the member’s negligence or are deliberate acts. Member acknowledges that no person from the Credit Union will ever ask for any passwords, and that the Credit Union employees do not need and should not ask for passwords. Members using this service shall not change its passwords periodically and whenever anyone who has had access to a password is no longer employed or authorized by it to use the Credit Union service. The Credit Union may require said member to change its passwords at any time. The Credit Union may deny access t...
Sample 1Sample 2Sample 3
Account Reconciliation. This refers to the act of checking whether the balance in ones' checkbook confirms with the corresponding bank statement. Account Review: It refers to the act of reviewing the credit history of a consumer by a creditor or lender. Activate: Usually, on receiving a new credit card, the owner has to make a call to the card issuer to inform them about it. Only then does the issuer activate the card or make it functional. It is a precautionary step to confirm that the correct person has received the card, in order to prevent fraudulent activities.
Sample 1
Account Reconciliation. Statement Copy Fee: Deposited Item Return Fee: Wire Transfer (Outgoing): International Wire Transfer: Inactive Account Fee** Returned Mail Fee: $25.00 3X5 Size $20.00 per year 7X10 Size $70.00 per year 5X5 Size $30.00 per year Drilling Fee See Teller
Sample 1

Examples of Account Reconciliation in a sentence

  • These services include: (i) Positive Pay and Account Reconciliation Services and (ii) ACH Fraud Filters.

  • This information shall be provided on the Power Account Reconciliation File (PRF), which is an electronic transaction between the Contractor and the State fiscal agent.

  • POWER Account Reconciliation for benefit periods ending prior to December 31, 2017 shall follow the policy and procedures documented in the MCE Policy and Procedures Manual.

  • The Account Reconciliation Summary is used to assist in balancing online account balances with the Customer’s bank statement.

  • If our Account Reconciliation reports of checks presented against your account matches the information you provide to us regarding the checks you have issued, you agree that we may treat the matching items as validly issued and properly payable, and that we may process such items for payment.

  • After the 12 month calendar year reconciliation period, the Contractor shall report any applicable POWER Account rollover amounts determined in accordance with Section 5.8.2.1 or any discounts determined in accordance with Section 5.8.2.2 to the State fiscal agent on the POWER Account Reconciliation file (PRF), as set forth in Sections 5.8.2 and 5.8.3 below.

  • Failure by Buyer to make an Account Reconciliation at any time for one or more months or portions thereof shall not be deemed as a breach of Buyer’s obligation hereunder and each Account Reconciliation shall be made for the entire period of time since the date of the last Account Reconciliation.

  • For as long as no Event of Default has occurred, Buyer shall on or about the fifteenth day of each month reconcile the Seller’s Account (“Account Reconciliation”) by either crediting or further debiting the Seller’s Account by the difference between the actual amount debited since the date of the last Account Reconciliation and the Specific Percentage of the actual Future Receipts collected by the Seller since the date of the last Account Reconciliation.

  • You agree that we may rely on such a process and that the process will be deemed an acceptable standard of care for Account Reconciliation, Positive Pay, and your account.

  • Positive Pay does not apply to items that have been finally paid before the effective date of any listing or items that are not processed as part of Account Reconciliation.

Related to Account Reconciliation

  • Reconciliation Period is each calendar month.

  • Reconciliation Date means the last calendar day of each Reconciliation Period.

  • Reconciliation Report refers to the Reconciliation Report as referenced in s. 1 of Reg 200/21 under Connecting Care Act, 2019.

  • Reconciliation means coordination of premium tax credit with advance payments of premium tax credit (APTC), as described in Section 36B(f) of IRC (26 USC § 36B(f)) and 26 CFR Section 1.36B-4(a) (July 26, 2017), hereby incorporated by reference.

  • Account Records is defined in Section 1(a)(i) of the Administration Agreement.

  • Reconciliation Procedures means those procedures set forth in Section 7.09 of this Agreement.

  • CREFC® Reconciliation of Funds Report A monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Reconciliation of Funds Report” available as of the Closing Date on the CREFC® Website or in such other form for the presentation of such information and containing such additional information as may from time to time be recommended by the CREFC® for commercial mortgage-backed securities transactions generally; provided that, to the extent that such other form contemplates such additional information, such other form must be reasonably acceptable to the Certificate Administrator.

  • CREFC® Reconciliation of Funds Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Reconciliation of Funds Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Interest Shortfall Reconciliation Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • U.S. Reportable Account means a Financial Account maintained by a Reporting [FATCA Partner] Financial Institution and held by one or more Specified U.S. Persons or by a Non-U.S. Entity with one or more Controlling Persons that is a Specified U.S. Person. Notwithstanding the foregoing, an account shall not be treated as a U.S. Reportable Account if such account is not identified as a U.S. Reportable Account after application of the due diligence procedures in Annex I.

  • Request regarding a statement of account means a record authenticated by a debtor requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate amount of unpaid obligations secured by collateral as of a specified date and reasonably identifying the transaction or relationship that is the subject of the request.

  • Eligible Accounts Receivable means, at any time, the invoice value of Canadian Dollar and U.S. Dollar Accounts Receivable (net of all goods and services Taxes, harmonized sales Taxes and other sales Taxes and net of any credit balance, returns, trade discounts, unapplied cash, unbilled amount or retention or finance charges) owing to the Restricted Parties (or any of them) arising under any sales of Inventory from the operation of the business of the Restricted Parties made by the Restricted Parties to any Person in the ordinary course of business, which invoice value shall be periodically reported to the Lender in the form of Schedule “B” to be delivered (i) at the time of each Drawdown during the Covenant Holiday Period, if at the time of such Drawdown there is no principal amount outstanding under any Prime Rate Loans, Base Rate Loans, CDOR Loans, and there are no outstanding Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender), and (ii) within fifteen days after the end of each calendar month during the Covenant Holiday Period, if during such month any Prime Rate Loans, Base Rate Loans, CDOR Loans, Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding; provided that no Account Receivable shall be deemed an Eligible Account Receivable unless each of the following statements is accurate and complete (and by including such Account Receivable in any calculation of the Borrowing Base, the Borrower shall be deemed to represent and warrant to the Lender the accuracy and completeness of such statements):

  • Verification Report As defined in Section 4.19.

  • Failed Bank Charge-Offs/Write-Downs means, with respect to any Shared- Loss Asset, an amount equal to the aggregate amount of reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Shared-Loss Asset as reflected on the Accounting Records of the Failed Bank.

  • Consolidated Account means an account which is a consolidation of any separate accounts of a person who is liable for payment to the Municipality.

  • Billing involves the provision of appropriate usage data by one Telecommunications Carrier to another to facilitate Customer Billing with attendant acknowledgments and status reports. It also involves the exchange of information between Telecommunications Carriers to process claims and adjustments.

  • Statement of Account means the Bank’s monthly or other periodic statement sent to the Cardholder showing particulars of the Current Balance payable to the Bank.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Accounts Receivable means in respect of any Person, (a) all trade accounts and notes receivable and other rights to payment from customers and all security for such accounts or rights to payment, including all trade accounts receivable representing amounts receivable in respect of goods shipped or products sold or otherwise disposed of or services rendered to customers, (b) all other accounts and notes receivable and all security for such accounts or notes, and (c) any claim, remedy or other right relating to any of the foregoing.

  • Reportable Account The term “Reportable Account” means an account held by one or more Reportable Persons or by a Passive NFE with one or more Controlling Persons that is a Reportable Person.

  • Account Receivable means, with respect to any Person, any and all rights of such Person to payment for goods sold and/or services rendered, including accounts, general intangibles and any and all such rights evidenced by chattel paper, instruments or documents, whether due or to become due and whether or not earned by performance, and whether now or hereafter acquired or arising in the future, and any proceeds arising therefrom or relating thereto.

  • Collection Report means the monthly report prepared by the Primary Servicer setting forth, with respect to each Mortgage Loan and the most recently ended Collection Period prior to the due date of such report, the information described on Exhibit G attached hereto.

  • Trade Accounts Payable of any Person means trade accounts payable of such Person with a maturity of not greater than 90 days incurred in the ordinary course of such Person's business.

  • Weekly Reporting Period means any Level 2 Ratings Period.

  • Cash Flow Statement means, with respect to any particular Bonds and Auxiliary Obligations, an Authority Certificate (a) setting forth, for the then current and each future Bond Year during which such Bonds and Auxiliary Obligations will be Outstanding, and taking into account (i) any such Bonds expected to be issued or redeemed or purchased for cancellation in each such Bond Year upon or in connection with the filing of such Certificate (for which purpose, if such Authority Certificate is delivered as of a date prior to a scheduled mandatory tender date for any Adjustable Rate Bonds, the Purchase Price of all such Adjustable Rate Bonds subject to scheduled mandatory tender on such tender date shall be assumed to be due and payable on such mandatory tender date), (ii) any such Auxiliary Obligations expected to be incurred upon or in connection with the filing of such Certificate, (iii) the interest rate (if applicable), purchase price, discount points and other terms of any Related Mortgage Loans, and (iv) the application, withdrawal or transfer of any moneys expected to be applied, withdrawn or transferred upon or in connection with the filing of such Certificate: