Funds-transfer business day definition

Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.
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Funds-transfer business day of a receiving bank means the part
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Funds-transfer business day of a receiving bank means the part of
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Examples of Funds-transfer business day in a sentence

  • Funds Transfer Business Day – is each day the Bank is open for purposes of conducting wire transfers excluding Saturdays, Sunday and Federal holidays.


More Definitions of Funds-transfer business day

Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and
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Funds-transfer business day means each day on which commercial banks are normally open to conduct business in New York, New York.
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Funds-transfer business day means the part of the day during which the Bank is open for the receipt, processing, and transmittal of Payment Orders and cancellations and amendments of Payment Orders and Reverse Wire Transfers (if applicable).
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Funds-transfer business day of a receiving bank means the part of a 2 day during which the receiving bank is open for the receipt, 3 processing, and transmittal of payment orders and cancellations and 4 amendments of payment orders. 5 (5) 'Funds-transfer system' means a wire transfer network, automated 6 clearinghouse, or other communication system of a clearinghouse or 7 other association of banks through which a payment order by a bank 8 may be transmitted to the bank to which the order is addressed. 9 (6) 'Good faith' means honesty in fact and the observance of reasonable 10 commercial standards of fair dealing. 11 (7) 'Prove' with respect to a fact means to meet the burden of establishing 12 the fact (G.S. 25-1-201(8)). 13 (b) Other definitions applying to this Article and the sections in which they 14 appear are: 15 'Acceptance' G.S. 25-4A-209 16 'Beneficiary' G.S. 25-4A-103 17 'Beneficiary's bank' G.S. 25-4A-103 18 'Executed' G.S. 25-4A-301 19 'Execution date' G.S. 25-4A-301 20 'Funds transfer' G.S. 25-4A-104 21 'Funds-transfer system rule' G.S. 25-4A-501 22 'Intermediary bank' G.S. 25-4A-104 23 'Originator' G.S. 25-4A-104 24 'Originator's bank G.S. 25-4A-104 25 'Payment by beneficiary's bank to beneficiary' G.S. 26 25- 27 4A- 28 405 29 'Payment by originator to beneficiary' G.S. 25-4A-406 30 'Payment by sender to receiving bank' G.S. 25-4A-403 31 'Payment date' G.S. 25-4A-401 32 'Payment order' G.S. 25-4A-103 33 'Receiving bank' G.S. 25-4A-103 34 'Security procedure' G.S. 25-4A-201 35 'Sender' G.S. 25-4A-103. 36 (c) The following definitions in Article 4 apply to this Article: 37
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Related to Funds-transfer business day

  • SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

  • Bank Business Day means a day on which the Bank conducts business activities as per its effective opening hours, so when the Bank is open for the purpose of executing payment transactions.

  • TARGET2 Business Day means, a day in which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • LIBOR Business Day Any day on which banks in London, England and The City of New York are open and conducting transactions in foreign currency and exchange.

  • Exchange Business Day means any Scheduled Trading Day on which the Exchange and each Related Exchange are open for trading during their respective regular trading sessions, notwithstanding any such Exchange or Related Exchange closing prior to its Scheduled Closing Time.

  • School business day means any calendar day except Saturdays, Sundays, and any federal and school holidays upon which the office of the Superintendent is open to the public for business. A school business day concludes or terminates upon the closure of the Superintendent’s office for the calendar day.

  • CSD Business Day means a day on which the Book-Entry Securities System is open in accordance with the regulations of the CSD.

  • Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

  • Euro Business Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System, or any successor system, is open for business.

  • Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

  • Currency Business Day means a day on which commercial banks and foreign exchange markets are open for general business (including dealings in foreign exchange and foreign currency deposits) in the principal financial centre of the Relevant Currency or, in the case of euros, a city in which banks in general have access to the TARGET2 System.

  • Funds-transfer system means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.

  • Relevant Business Day means a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007 (TARGET2) is open for the settlement of payments in EUR.

  • Payment Business Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Stockholm and Frankfurt am Main and on which the Clearing System settles payments in the Issue Currency.

  • Fund Business Day means any day on which the NAV of Shares of each Fund is determined as stated in the then current Prospectus.

  • New York Business Day means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City are generally authorized or obligated by law or executive order to close.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Local Business Day means, subject to the Schedule, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) (a) in relation to any obligation under Section 2(a)(i), in the place(s) specified in the relevant Confirmation or, if not so specified, as otherwise agreed by the parties in writing or determined pursuant to provisions contained, or incorporated by reference, in this Agreement, (b) in relation to any other payment, in the place where the relevant account is located and, if different, in the principal financial centre, if any, of the currency of such payment, (c) in relation to any notice or other communication, including notice contemplated under Section 5(a)(i), in the city specified in the address for notice provided by the recipient and, in the case of a notice contemplated by Section 2(b), in the place where the relevant new account is to be located and (d) in relation to Section 5(a)(v)(2), in the relevant locations for performance with respect to such Specified Transaction.

  • Banking Business Day means any day other than a Saturday or Sunday that is not a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close.