Memo Posted Debits definition

Memo Posted Debits. Any debits being posted to the account for business day. For example ACH debit transactions, wire transfers, and teller cashed checks.
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Memo Posted Debits are any debits for a current or next Business Day, which may be posted to an Account intraday or during nightly processing (e.g., ACH transactions, wire transfers, and teller cashed checks).
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Examples of Memo Posted Debits in a sentence

  • Memo Posted Debits: Any pending debits posted to the Account for a given Business Day.

Related to Memo Posted Debits

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Merchant Account means the merchant account facility agreed between you and the Merchant Acquiring Bank.