Beneficiary Bank definition

Beneficiary Bank means the branch of the bank identified in a Payment Instruction where Customer maintains an account.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

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 a wire transfer request describes a Beneficiary inconsistently by name and account number, payment might be made to the Beneficiary Bank solely upon the account number even if the account number identifies a person different from the named Beneficiary.

• Beneficiary Bank: Worth National Bank ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Tel: ▇▇▇-▇▇▇-▇▇▇▇ Beneficiary: ▇▇▇▇ Petroleum, Inc.

• If a wire transfer request indicates an intermediary bank or Beneficiary Bank inconsistently by name and identifying number, the execution of the wire request may be based solely upon the number even if the number identifies a bank different from the named bank or a person who is not a bank.

• However, the paper BG would be operative only on receipt of a separate advice through SFMS and confirmed by the Advising Bank (i.e. Beneficiary Bank).

• Account Number: 377005086900000002273 Beneficiary Bank: High-Tech Development Region Sub-Branch, Bank of Communications Weifang Branch If an account is set up specifically for loan deposit, the release and the payment of the loan must be done through that account.

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 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 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 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.