Account Verification definition

Account Verification is the process of either (a) retrieving the specified customer account information from a single financial institution Data Source and presenting such account information to Bank of America for Bank of America’s use in verifying financial accounts or otherwise authenticating customers, or (b) providing a corresponding error code to Bank of America due to invalid credentials or account and routing numbers from customer for a single financial institution account. An Account Verification may be used only one (1) time, only at the specific time requested and solely for the single, specific purpose requested.

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Account Verification. We mean: 2.3.1 Procedure for vetting new vendors/payees; 2.3.2 Verification procedure for new beneficiaries loaded on the Account for Funds Transfers; 2.3.3 Verification process for the amendment of existing beneficiary Funds Transfers. 2.3.4 Your Business must be able to prove compliance to the procedures documented in the event of a claim.

Account Verification. We mean: 2.3.1 Procedure for verifying the authenticity, trustworthiness and integrity of all payment instructions received to transfer Trust Account funds to a Payee; 2.3.2 Verification of requests to add and/or amend Payee payment details; 2.3.3 Verification of payment details using verification services offered by a Financial Institution and/or third party provider; Your Business must be able to prove compliance to the procedures documented in the event of a claim.

Examples of Account Verification in a sentence

• All of your external accounts will be required to complete our Account Verification process.

• Your use of the Account Verification Service is subject to the terms and conditions of this Account Verification User Agreement and Company’s User Agreement incorporated herein by reference.

• You agree that the results of the Account Verification Service are for your use only in connection with the Online Account Opening Service, on Company’s Web site.

• You understand and agree that the Account Verification Service is not endorsed or sponsored by any third party account providers accessible through the Account Verification Service.

• You are licensing to Company and Yodlee any information, data, passwords, materials or other content (collectively, “Content”) you provide through or to the Account Verification Service.

• By using the Account Verification Service, you authorize Company and its supplier Yodlee, Inc.

• Company and Yodlee may use, modify, display, distribute and create new material using such Content to provide the Account Verification Service to you.

• Payment for each subscription for Units shall be in the form of a check made payable to "Lease Equity Appreciation Fund II, L.P. Escrow Account." Verification of the Subscription Proceeds by the Escrow Agent will be available via direct, online access, telecopier, or other electronic media as soon as practicable after receipt.

• Subscriber may request and use Account Verification only subject to the written authorization of the subject consumer.

• Bank of America shall pay such Account Verification Fees within thirty (30) days after its receipt of Supplier’s invoice.

More Definitions of Account Verification

Account Verification. Whether or not a Default or Event of Default has occurred, any of Agent's officers, employees or agents shall have the right at any time, upon reasonable notice during business hours, in the name of Agent or a Borrower, to verify the validity, amount or any other matter relating to Accounts by mail, telephone or otherwise. Borrowers shall cooperate fully with Agent, its officers, employees or agents in such process.