ACH System definition

ACH System means the Automated Clearing House system of the U.S. Federal Reserve Board or a successor system providing electronic funds transfers between banks.

ACH System means the automated clearinghouse system.

ACH System means the automated clearinghouse or other system used for bulk file transfers; (c) “Entry Data” means instructions, data or other information transmitted or otherwise communicated to Bank as provided in this Service Description; and (d) “Rules” means the rules of NACHA – The Electronic Payments Association® (“NACHA”) and any applicable local ACH rules and regulations as in effect from time to time.

Examples of ACH System in a sentence

• Among other things, the Deposit Account Agreement shall provide that the Borrowers shall have no access to or control over the Deposit Account, that all available funds on deposit in the Deposit Account shall be transferred by wire transfer (or transfer via the ACH System) on each Business Day by the Deposit Bank into the Lock Box Account, for application in accordance with the Cash Management Agreement.

• Merchant shall, at all times, maintain an account at a bank that is a member of the Federal Reserve ACH System (“Account”).

• Such transfers may be transmitted through the Automated Clearing House (ACH) System.

• Among other things, the Deposit Account Agreement shall provide that the Borrowers shall have no access to or control over the Deposit Account, and that all available funds on deposit in the Deposit Account shall be deposited by wire transfer (or transfer via the ACH System) on each Business Day by the Deposit Bank into the Lock Box Account.

• MERCHANT also agrees that the monthly FBI Fee will be debited by a third party from the Account via the Federal Reserve ACH System on or about the first day of each month and will be debited separately from any other fee listed in this Agreement.

• Bank will receive instructions from Company for Entries transferring directly to or from another financial institution by Bank of funds from or to Company’s account(s) at Bank into the ACH System directly to or from another financial institution.

• If transferring such amounts by the ACH System and if required by the Clearing Bank, each such transfer shall be initiated by the Trustee.

• Payroll checks can be electronically deposited to any financial institution that is a member of the Automated Clearing House (ACH) System.

• CLIENT shall, at all times, maintain an Account (“Settlement Account”) at a bank that is a member of the Federal Reserve ACH System.

• Member may submit ACH origination Entries to Alloya by use of Alloya’s ACH System.

More Definitions of ACH System

ACH System means an automated clearing house network or system used to process electronic payments which are transferred to or from your Account through an automated clearing house network. Such payments shall be subject to all applicable Federal Reserve System regulations and circulars, NACHA Rules, and similar operating policies and procedures. Common examples include direct deposits of payroll, pension or government benefits such as Social Security.

ACH System means the automated clearinghouse or other system used for bulk file transfers;

ACH System is closed and not a day on which banking institutions are authorized or obligated by law or executive order to close in New York, New York, United States.

ACH System means the Automated Clearing House system of the U.S. Federal Reserve Board or a successor system providing electronic funds transfers between banks. “Act”, when used with respect to any Holders, has the meaning specified in Section 104.