Fedwire Regulation definition

Fedwire Regulation means subpart B of Regulation J of the Board of Governors of the Federal Reserve System, as amended from time to time.
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Fedwire Regulation means Subpart B of Regulation J of the Board of Governors of the Federal Reserve System, as amended from time to time. “Payment Order” shall mean an instruction to the Bank, from or in your name, to pay a fixed or determinable amount of money to a Beneficiary. ”Repetitive Transfers” shall mean funds transfers in which the Covered Account, Beneficiary, Beneficiary’s financial institution, and Beneficiary’s deposit account are the same for each transfer, and only the date, dollar amount, and optional information vary. “Wire Security Procedures” shall mean those procedures (i) specified in the Wire Authorization; (ii) included in the Appendix; or (iii) as otherwise agreed by you and us for transmitting Payment Orders to the Bank and for verifying such Payment Orders upon receipt by us, as such procedures may be amended to supplemented from time to time by the Bank. Transfers may be made in two ways: first, transfers may be made on a one-time basis; second, transfers can be made on a recurring basis. One-time transfers can be immediate or scheduled at a future date. The recurring transfer may be used to make transfers of a set amount at recurring intervals. Customer authorizes Bank from time to time to transfer funds of Customer from any Covered Account to any other deposit account of Customer or a Beneficiary at Bank or another financial institution, or to another financial institution for the benefit of Customer or a Beneficiary, when requested to do so in a Payment Order. With respect to Customers who designate Authorized Users, Customer authorizes Bank to accept Payment Orders from an Authorized User or any person purporting to be an Authorized User. For all Services hereunder, Payment Orders may be transmitted to Bank by any means approved by Bank, including oral, written, or electronic communication. Wire transfer Payment Orders via Online Banking can be made from Customer designated accounts maintained with us to accounts Customer may have at other depository institutions or to accounts third parties maintain with us or other depository institutions. We will process wire transfer requests (“Wire Request”) we receive from Customer via Cash Management throughout the day until our cut-off time on any Business Day. Any Wire Requests we receive after the cut- off time or on a non-Business Day will be processed on the next Business Day. You should always assume that a Wire Request may not be cancelled or amended at any time after the Wire Request is transmitt...
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Fedwire Regulation means subpart B of Regulation J of the Board of Governors of the Federal Reserve System, as amended from time to time. “Repetitive Transfer” means wire transfers in which the receiving Bank, payee, and account are the same for each transfer, and only the transfer date and amount vary. “Request” means a Customer’s request to Bank for an Online Wire Transfer, or for a cancellation or amendment of an Online Wire Transfer, made in the name, or having the unique identifier, of Customer as sender requesting that funds belonging to, or under the control of Customer to be transferred to a specified account or beneficiary. Capitalized terms used in this Section B.3., but not defined in this Section B.3. or Section A, shall have the meaning assigned to them by applicable Pennsylvania law or, if none, by Federal Reserve Board Regulation J.
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Examples of Fedwire Regulation in a sentence

  • The rights and obligations of Bank and Company in a wire transfer intended to carry out Company's Request, any part of which is carried out through the use of Fedwire, are governed by Fedwire Regulation.

  • All funds transfers are governed by this Agreement, The Fedwire Regulation, OFAC regulations, and all other Applicable Law.

  • Your and Bank’s rights and obligations in a funds transfer intended to carry out a Funds Transfer Request, any part of which is carried out through the use of Fedwire, are governed by the Fedwire Regulation.

  • For purposes of this Section B.3., “Fedwire” means the funds transfer system owned and operated by the Federal Reserve Banks that is used primarily for the transmission and settlement of payment orders governed by the Fedwire Regulation.

  • In connection with Client’s use of Bank’s wire transfer services under this Agreement, Client hereby agrees to the following: (i)Bank may use Fedwire when acting upon Client’s Request; (ii)Any subsequent bank may use Fedwire when carrying out Client’s Request; and (iii)The rights and obligations of Bank and Client in a wire transfer intended to carry out Client’s Request, any part of which is carried out through the use of Fedwire, are governed by Fedwire Regulation.

  • The Fedwire Regulation governs our rights and obligations in any part of a Transfer carried out through the use of Fedwire.

  • The rights and obligations of the Credit Union and Member in a wire transfer intended to carry out Member's Request, any part of which is carried out through the use of Fedwire, are governed by Fedwire Regulation.

  • The rights and obligations of Bank and Customer in a Wire Transfer intended to carry out Customer’s Request, any part of which is carried out through the use of Fedwire, are governed by Fedwire Regulation.