Merchant Bank Account definition

Merchant Bank Account means an account in your name with a duly authorised credit institution acceptable to us that is maintained by you for the purposes of receiving Remittances and paying your Fees due to us in accordance with clause 4.1;

Merchant Bank Account means an active bank account under Xxxxxxxx’s control and ownership and under Xxxxxxxx’s business name, which shall be the account to which all Transaction amounts shall be settled.

Merchant Bank Account means a Ringgit Malaysia account held by, in the name of, and maintained by the Merchant at a licensed financial institution or bank in Malaysia and recognised and acceptable to TNGD;

Examples of Merchant Bank Account in a sentence

• The Merchant Bank Account shall be subject to Processor’s approval.

• Processor, acquiring banks, or other financial institutions holding the Merchant Payment Account may also require a holding period before the settlement of the Settlement Amounts to the Merchant Bank Account.

• Merchant may request to change its Merchant Bank Account on file.

• Givex will notify Merchant as to when Xxxxxxxx is able to close the Merchant Bank Account.

• Merchant shall ensure that the Merchant Bank Account remains active, in good standing, and fully capable of being used in connection with the GivexPay Services and Processing Services, for as long as the Transactions conducted by Merchant are subject to cancellation or reversal (and as otherwise specified or required by the Payment Card Network(s) and/or Processor).

More Definitions of Merchant Bank Account

Merchant Bank Account has the meaning given to it in clause 5.3;

Merchant Bank Account means the Merchant’s account maintained with the Merchant Bank;

Merchant Bank Account means the bank account which You are required to maintain pursuant to clause 10.1;

Merchant Bank Account means the Merchant’s account that with a South African Bank;

Merchant Bank Account means the bank account where funds due to the Merchant will be settled by a MontyPay Partner;

Merchant Bank Account means the bank account which the Merchant is required to maintain pursuant to clause 11.1 of these Terms and Conditions;

Merchant Bank Account means a business checking account established by Merchant at Bank through which Merchant authorizes PROCESSOR to settle all UnionPay transactions, or other payment option methods, electronically by an ACH and/or wire transfer system. Merchant shall not block or otherwise prevent PROCESSOR from debiting all amounts owed to PROCESSOR from the Merchant Bank Account. In the event, any debit or other charges are not honored by the Merchant’s Bank, the Merchant hereby gives PROCESSOR the right to offset any such debt owed to PROCESSOR from the Merchant’s Volume prior to settlement.