Bank of First Deposit definition

Bank of First Deposit. In a Check 21 Transaction, the financial institution which receives the Entry from Profit Stars and transmits the Entry through the Federal Reserve Bank system for transmittal to the Customer’s financial Institution for debit or credit to the Customer’s account.
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Bank of First Deposit means the first Bank that receives funds from Utah MRB related transactions.
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Examples of Bank of First Deposit in a sentence

  • Reseller’s third party processing services partners, including without limitation Profit Stars, the Bank of First Deposit, and Provider Partner, are providing some of the Services specified in this Agreement, and as a result, each of these third party services partners shall be an intended third party beneficiary of this Agreement between Reseller and Merchant.

  • HFSI agrees to act as an agent and attorney- in-fact for the Bank and provide inclearing and outgoing services: * Endorse all items as Bank of First Deposit in the name of the Bank.

  • Customer shall identify BND as the Bank of First Deposit by placing BND's Routing Transit Number in the proper field, according to the current image exchange standards, of each Electronic Item.

  • The Parties agree that WSDOT inspections and acceptances regarding the Improvements are solely for the benefit of WSDOT and not for the benefit of the Agency, the Agency’s contractor (if any), or any third party.

  • Image Returns Vision Statement The vision is of a nation-wide all-electronic clearing system that accelerates the delivery of electronic return item information to the Bank of First Deposit (BOFD) or its agent.

  • Consistent with normal banking practices, Chase will serve as "Bank of First Deposit".

  • An officer of the receiving bank takes possession of the cheque, scans it through a cheque scanner and the scanned image istransmitted to the paying bank via central bank to be technically and financially processed successfully via high speed secure connection lines, the reply for that action to pay or not to pay the cheque is generated from the paying bank to the central bank and then sent back to receiving bank or Bank of First Deposit (BFD).

  • The Customer shall not identify any other financial institution, other than BND, as the Bank of First Deposit with respect to any Electronic Item.

Related to Bank of First Deposit

  • L/C Bank means the Original L/C Bank and any other Lender which has been appointed as an L/C Bank in accordance with Clause 5.11 (Appointment and Change of L/C Bank) and which has not resigned in accordance with paragraph (c) of Clause 5.11 (Appointment and Change of L/C Bank).

  • Bank One means Bank One, NA, a national banking association having its principal office in Chicago, Illinois, in its individual capacity, and its successors.

  • KeyBank means KeyBank National Association.

  • Minister of Finance means the Minister of Finance or such other person who may be designated from time to time under the Executive Council Act;

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • London Inter-Bank Offered Rate means the interest rate at which the Bank's London Branch, London, Great Britain, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter-bank market at approximately 11:00 a.m. London time two (2) London Banking Days before the commencement of the interest period. A "London Banking Day" is a day on which the Bank's London Branch is open for business and dealing in offshore dollars.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • Bank of America Fee Letter means the letter agreement, dated January 4, 2011, among the Borrower, Bank of America and MLPFS.

  • Non-U.S. Bank means a Person that is not a United States Person and that is not described in Section 881(c)(3) of the Code.

  • UK Non-Bank Lender means (a) where a Lender becomes a party hereto on the day on which this Agreement is entered into, a Lender listed in Schedule 3.01(j), and (b) where a Lender becomes a party hereto after the day on which this Agreement is entered into, a Lender which gives a UK Tax Confirmation in the Assignment and Assumption and/or Joinder Agreement which it executes on becoming a party hereto.

  • ABN means Australian Business Number.

  • ABN AMRO means ABN AMRO Bank N.V.

  • HSBC means HSBC Bank USA, National Association.

  • Director of Finance means the Chief Financial Officer of the Trust.

  • Fifth Third means Fifth Third Bank, National Association.

  • JPMorgan Chase Bank means JPMorgan Chase Bank, N.A. and its successors.

  • Wachovia means Wachovia Bank, National Association, a national banking association, and its successors.

  • CIBC means Canadian Imperial Bank of Commerce.

  • Amended and Restated Credit Agreement has the meaning specified in the recitals to this Agreement.

  • Computershare means Computershare Trust Company of Canada;

  • GS Bank shall have the meaning assigned to such term in the preamble to this Agreement.

  • JPMorgan Chase means JPMorgan Chase Bank, N.A. and its successors.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Bank of America means Bank of America, N.A. and its successors.

  • UBS means UBS AG, Stamford Branch.

  • AML/CFT means anti-money laundering and countering the financing of terrorism;