Beneficiary Bank definition

Beneficiary Bank means the branch of the bank identified in a Payment Instruction where Customer maintains an account.
Beneficiary Bank means the bank, with which the Registered Beneficiary holds an account.
Beneficiary Bank means the Bank holding a bank account of the Receiver where the credit of the UPI instruction is received from the Payer to be executed either in real time basis or periodically with a settlement process.

Examples of Beneficiary Bank in a sentence

  • If the Insurance Premium payable by the Insured becomes overdue, the Insured authorizes the Beneficiary (Bank) to pay on its own and at its own discretion the Insured person’s Insurance Premium to the Insurer, provided the payment is less than 90 (ninety) days overdue.


More Definitions of Beneficiary Bank

Beneficiary Bank means the bank in India, with which the Registered Beneficiary holds an account.
Beneficiary Bank means the Bank with which the Beneficiary holds an Account.
Beneficiary Bank means the bank with which the Beneficiary holds an Account. “Branches” means Branches of ICICI Bank UK PLC in the United Kingdom.
Beneficiary Bank means the bank identified in a Payment Order Instruction in which an account of the Beneficiary is to be credited pursuant to the order.
Beneficiary Bank means the bank with which the Beneficiary holds an Account. “Charges” means the charges levied by us for use of the Service by you.
Beneficiary Bank means the bank in the Relevant Country , with whom the Beneficiary holds an account and which has been so mentioned by the Registered User.
Beneficiary Bank or “Ultimate Beneficiary’s Financial Institution” shall mean the institution where the Beneficiary’s account is located.