ACH Operator definition

ACH Operator means the central clearing facility operated by a Federal Reserve Bank or a private organization on behalf of the Depository Financial Institutions (DFI), to or from which a participating DFI transmits or receives ACH Entries.

ACH Operator means the central clearing facility, operated by a Federal Reserve Bank ("FRB") or a private organization, which receives entries from the ODFI or the Third Party processor acting as an agent for the ODFI, and distributes entries to the appropriate RDFI or the Third Party processor acting as an agent for the RDFI, and performs the settlement functions for the affected financial institutions.

ACH Operator means either the Federal Reserve ACH Operator or the EPN (Electronic Payments Network) private ACH Operator. “Administrator” has the meaning set forth in Section 12(a).

Examples of ACH Operator in a sentence

• PROCESSOR will not be liable for any delays in receipt of funds or errors in debit and credit Entries caused by third parties including but not limited to the ACH Operator, the ODFI, the Receiving Depository Financial Institution (“RDFI”), or CUSTOMER's financial institution.

• CUSTOMER wishes to initiate debit and credit entries pursuant to the terms of this Agreement and the operating rules and guidelines of the National Automated Clearing House Association (“NACHA”) and any ACH Operator (the “Rules”), and applicable foreign, federal, state, and local laws and regulations, as the same may be amended from time to time (“Laws”) and in compliance with all applicable requirements of the ODFI and any applicable Federal, state or banking regulatory authority (“Agency”).

• PROCESSOR, in its sole and absolute discretion, has the right to immediately suspend or terminate processing for CUSTOMER and/or this Agreement if PROCESSOR, the ODFI, the ACH Operator, NACHA, or any applicable Agency believes that CUSTOMER has breached these representations and warranties, any other representations and warranties made elsewhere in this Agreement, or has initiated any unauthorized Entries.

• The Effective Entry Date for an Entry may be converted to a Settlement Date by the ACH Operator if the Effective Entry Date is the same day or prior to the transmission date, or if the Effective Entry Date falls on a Saturday, Sunday, or holiday on which the ACH Operator is closed.

• Bank shall notify Company of such rejection no later than the Business Day such Entry would otherwise have been transmitted by Bank to the ACH Operator or, in the case of an On-Us Entry, the day before its Effective Entry Date.

More Definitions of ACH Operator

ACH Operator refers to a processor between originating and receiving banks.

ACH Operator means a Federal Reserve Bank or other (n) ".On-us entry" means an entry that credits or debits an entity that provides clearing,delivery and settlement services for entries, account maintained with us. as further defined in the rules. (b) "Authorized representative." means each person (o) ".Receiver." means the person or entity that has identified in your ACH origination service profiles as they are in effect at authorized you to initiate a debit or credit entry to the account of that the relevant time, who is authorized (unless otherwise indicated in your person or entity maintained at the RDFI as further defined in the rules. service profiles) to give us instructions and to verify the total dollar (p) ",RDFI" means the receiving depository financial amount of entries in a file by submitting control totals(as defined below) institution as further defined in the rules, in writing, by a method acceptable to us, or through our phone authorization Line, or"PAL"system, if you have elected to use our PAL (q) ".Rules." means the Operating Rules and Operating system. Guidelines adopted by NACHA,as in effect at the relevant time.

ACH Operator means a Federal Reserve bank, including without limitation, the United States Federal Reserve Bank of Kansas City, or other entity that provides clearing, deliver, and settlement services for ACH Entries, as defined by the Rules, and other services, all as more fully described and defined in the Rules.

ACH Operator means an organization serving as a central clearing facility that receives entries from the ODFIs and distributes the entries to the appropriate RDFI.

ACH Operator. The central clearing facility operated by a private organization or a Federal Reserve Bank (FRB) on behalf of financial institutions, to or from which participating financial institutions transmit and/or receive ACH entries. • ARPC—ACH Regional Processing Center. Washington State is assigned to the bank’s ARPC located in San Francisco, California. • Attorney of a Driver or Injured Passenger—Somebody legally empowered by a document power of attorney to make decisions and act on behalf of somebody else. • Bank—The financial institution and/or department acting as OST’s ODFI, at this time, State’s concentration bank.

ACH Operator a Federal Reserve Bank that performs the following (in part): • adhere to these rules (except to the extent inconsistent with the policies or practices of the Federal Reserve Banks) and other applicable laws, regulations, and policies;

ACH Operator has the meaning given in the NACHA Rules.