Direct Credit definition

Direct Credit means a payment instruction initiated by an originator for onward credit to a receiver for a payroll credit, dividend payment, wire transfer or any other such instrument that allows a person to arrange a credit transaction in favour of another;

Direct Credit means the facility by which you may elect to pay superannuation contributions on behalf of your employees by electronic transfer from your financial institution account to the PayClear Bank Account.

Direct Credit means a direct deposit of money by a payer into a payee's account. This includes NPP Payments into a payee’s account.

Examples of Direct Credit in a sentence

• ABSLAMC will endeavor to credit the redemptions/dividend payouts directly to the designated Bank A/c of the unitholders of Aditya Birla Sun Life Mutual Fund schemes through any of the available electronic mode (i.e. RTGS/ NEFT/ Direct Credit/ NECS/ ECS).

• The payment of refund through NACH is mandatory for Anchor Investors having a bank account at any of the centres where NACH facility has been made available by the RBI (subject to availability of all information for crediting the refund through NACH including the MICR code as appearing on a cheque leaf, from the depositories), except where the applicant is otherwise disclosed as eligible to get refunds through NEFT or Direct Credit or RTGS.

• AMC shall not be responsible if transaction through ECS / Direct Credit could not be carried out because of incomplete or incorrect information provided by investor.

• For investors banking with any other bank apart from above mentioned banks, the AMC / MF will endeavor to credit the payout directly to that bank account through available electronic mode(s) (ECS / Direct Credit).

• Direct Credit is now available with: Axis Bank, BNP Paribas Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, ING Vysya, Kotak Mahindra Bank, Royal Bank of Scotland, SBI, Standard Chartered Bank, YES Bank.

More Definitions of Direct Credit

Direct Credit means automated credit transfer via BACS.

Direct Credit. – means the transfer of funds initiated by you from an account with an Australian financial institution to the Facility.

Direct Credit means the service offered by Bacs that allows originators to pay money directly into a destination account

Direct Credit means a payment instruction initiated by an originator for onward credit to a receiver, for a payroll credit, payment, or any transaction approved by the ECACH that allows a person to arrange a credit transaction in favour of another.

Direct Credit means credit received by Customer, in the form of a check, from the Product Manufacturer or the Manufacturer’s Processor in lieu of credit issued to the Customer’s wholesaler account.

Direct Credit. A fund transfer system that allows funds to be directly credited to the recipient’s designated bank account. Electronic Data Capture (EDC) Terminal : A point-of-sale terminal, mechanical/electronic terminal, contactless reader/terminal or any other devices either manually, electronically or otherwise activated to read and/or record the Transactions. eCommerce : Electronic commerce, which is the buying and selling of goods and services online via merchant website.

Direct Credit balances under (and as defined in) the Brink’s Agreement, but only to the extent that such balances are not repaid when due or, in any event, prior to the time that an “Event of Default” (under and as defined in the Brink’s Agreement) would arise under the Brink’s Agreement as a result of any such nonpayment;