Automated clearing house network definition

Automated clearing house network or "ACH network" means a national electronic funds transfer system regulated by the Federal Reserve and the Office of the Comptroller of the Currency.
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Automated clearing house network. (“ACH Network”) means the funds transfer system governed by the NACHA (National Automated Clearing House Association) rules, that provides funds transfer services to participating financial institutions.
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Automated clearing house network means the funds transfer system, governed by the NACHA Rules, which provides funds transfer services to participating financial institutions.
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Examples of Automated clearing house network in a sentence

  • Bank reserves the right in its sole discretion to select clearing agents and the manner in which Items are cleared or presented for payment, including electronically through the Automated Clearing House Network.

  • The ACH Service allows you to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and the local Automated Clearing House Association (the "Rules").

  • Automated Clearing House Network is a batch processing, store-and- forward system that accumulates and distributes ACH transactions that are received from ODFI (defined below) and are forwarded to the specified RDFI (defined below) according to the specific schedules established by the participants.

  • Client wishes to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Service Description and the rules of the National Automated Clearing House Association (“NACHA”) (the "Rules"), and Bank is willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries (the "ACH Service").

  • This is the national standard established by the banking industry (National Clearing House Association) for the electronic transfer of funds between banks using the Automated Clearing House Network.

  • Customer wishes to initiate credit and/or debit Entries (as hereinafter defined) by means of the Automated Clearing House Network pursuant to the terms of these Terms and those of NACHA.

  • As used in this Agreement, the following definitions apply: “ACH Network” means the Automated Clearing House Network, a processing and delivery system that provides for the distribution and settlement of electronic credits and debits.

  • In utilizing the Automated Clearing House Network in performance of this Agreement, Financial Institution must make certain warranties on behalf of Third-Party Sender.

  • The Pennsylvania Electronic Payment Program (PEPP) establishes the Automated Clearing House Network as the preferred method of payment in lieu of issuing checks.

  • ACH Network - Automated Clearing House Network is a batch processing, store-and-forward system that accumulates and distributes ACH transactions that are received from ODFI (defined below) and are forwarded to the specified RDFI (defined below) according to the specific schedules established by the participants.


More Definitions of Automated clearing house network

Automated clearing house network or "ACH Network" shall mean the network of participants involved in an ACH transaction, including parties originating Entries, ODFIs, RDFIs and parties receiving Entries.
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Automated clearing house network or “ACH Network” means the electronic funds transfer system governed by the NACHA Rules that provide for the interbank clearing of
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Automated clearing house network or “ACH” means a funds transfer system, governed by the Operating Rules of NACHA, the Electronic Payments Association, used by financial institutions, corporations, and consumers which provides for the inter-bank clearing of electronic entries.
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Related to Automated clearing house network

  • Clearing House means a clearing house recognised by the laws of the jurisdiction in which the Shares (or depositary receipts therefor) are listed or quoted on a stock exchange or interdealer quotation system in such jurisdiction.

  • Clearing House Rules means the Certificate of Incorporation, the By- Laws and any rule, interpretation, stated policy, or instrument corresponding to any of the foregoing, in each case as adopted or amended from time to time by the Clearing House relating to any or all of the Swaps.

  • Automated Message Accounting (AMA) means the structure that is inherent in switch technology that initially records Telecommunication message information. AMA format is contained in the Automated Message Accounting document published by iconectiv (formerly known as Telcordia) as GR-1100-CORE, which defines and amends the industry standard for message recording.

  • Boarding house means a residence in which lodging and meals are provided. Each resident of a boarding house is charged a lump sum to cover the costs of lodging and meals with no separate accounting for the fair selling price of the meals.

  • Automated driving system means the same as that term is defined in Section 41-26-102.1.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Rooming house means any dwelling, or that part of a dwelling containing one or more rooming units in which space is let by the owner or operator to three or more persons who are not husband and wife, son or daughter, mother or father, or sister or brother of the owner or operator.

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Clearinghouse means the Federal Motor Carrier Safety Administration Commercial Driver's License Drug and Alcohol Clearinghouse.

  • dwelling house means any residential property assessed as real

  • State electronic verification system means the system described in Section 26-61a-103.

  • Centralized Message Distribution System or "CMDS" means the operation system that Local Exchange Carriers use to exchange outcollect and IABS access messages among each other and other parties connected to CMDS.

  • TARGET2 System means the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) system or any successor thereto.

  • Electronic Data Interchange or “EDI technology” means the computer-to-computer exchange of business transactions in a standardized, structured electronic format.