Automated Deposits definition

Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable automated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjustment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account. Deposit of Substitute Checks: You agree that you will not deposit, without our prior written consent, “substitute checks” as defined by federal law or Image Replacement Documents that purport to be substitute checks and have not been previously endorsed by a bank. If you deposit such an item, you agree to reimburse us for losses, costs and expenses we may incur associated with warranty or indemnity claims.
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Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable automated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjustment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account.
Sample 1
Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable automated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjustment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account. You will receive notice of such credits in your periodic statements. Deposit of Substitute Checks: You agree that you will not deposit, without our prior written consent, “substitute checks” as defined by federal law or Image Replacement Documents that purport to be substitute checks and have not been previously endorsed by a bank. If you deposit such an item, you agree to reimburse us for losses, costs and expenses we may incur associated with warranty or indemnity claims. Standard of Care: Most checks and other debit items are processed automatically, without review of each check or item. You agree that we are acting within common and reasonable banking practices by such automated processing and that the use of automated systems in the processing of checks constitutes ordinary care. You also agree that the Bank does not fail to exercise ordinary care in paying an item solely because its procedures don’t provide for sight-review, or provide for sight-review only for items above a threshold level, or on a sample basis, at the discretion of the Bank. The exercise of ordinary care does not require us to detect forgeries or alterations that could not be detected by an ordinary person acting with reasonable care.
Sample 1

Examples of Automated Deposits in a sentence

  • For information about electronic fund transfer errors or inaccuracies relating to the Advantage Account, refer to the "Electronic Funds, Automated Deposits and Transfer" section of this Agreement.

  • Section H - Authorization for Direct Deposit(page 9 of application) Complete the Authorization For Automated Deposits form on page 9.

  • The financial organization consists of Automated Teller Machine (ATM), Point of Sales, |Automated Deposits of Payroll, Electronic Cheques, Home Banking, Direct Deposit Funds (electronically), Debit Cards and Credit Cards etc.2.2.2 Teller BankingThe Teller Banking refers as an assemblage of Cathode Ray Tube (CRT) terminals, hard- copy terminals, printers, software and other devices that support the bank teller by conducting routine teller functions.


More Definitions of Automated Deposits

Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable auto- mated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjust- ment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account. You will receive notice of such credits in your periodic statements. Deposit of Substitute Checks: You agree that you will not deposit, without our prior written consent, “substitute checks” as defined by federal law or Image Replacement Documents that purport to be substitute checks and have not been previ- ously endorsed by a bank. If you deposit such an item, you agree to reimburse us for losses, costs and expenses we may incur associated with warranty or indemnity claims.
Sample 1

Related to Automated Deposits

  • Automated Clearing House or “ACH” means a national and governmental organization that has authority to process electronic payments, including, but not limited to, the national automated clearing house association and the federal reserve system.

  • 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.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • ACH means automated clearing house transfers.

  • Assumed Deposits means Deposits.

  • recognised clearing house means an organisation recognised as such pursuant to FSMA;

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Bid Deposit means a financial guarantee to ensure the successful bidder will enter into an agreement.

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • 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.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.

  • Controlled Deposit Account means a Deposit Account that is subject to a Deposit Account Control Agreement.

  • authorised deposits means the substances and articles specified in paragraph 2(3) of Part 1 of this licence;

  • Central Depository means Centrálny depozitár cenných papierov SR, a.s., with its registered seat at ul. 29. augusta 1/A, Bratislava 814 80, Slovak Republic, registered in the Commercial Register maintained by the District Court Bratislava I, Section: Sa, Insert No.: 493/B;

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Insured Depository Institution Insured Depository Institution shall have the meaning ascribed to such term by Section 1813(c)(2) of Title 12 of the United States Code, as amended from time to time.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Custody Account means each Securities custody account on Bank's records to which Financial Assets are or may be credited pursuant hereto.

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

  • Trading Account means the unique personified registration system of all Completed Transactions, Open Positions, Orders and deposit/withdrawal transactions in the Trading Platform.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate principal balance of the Receivables on the Initial Cutoff Date (which is equal to $22,000,029.61).

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Demand deposits means a deposit received by the Bank which is withdrawable on demand;