Misdirected Payment definition

Misdirected Payment means a payment made by a user using a PayID where funds are paid into the account of an unintended recipient because the PayID wasn’t correctly created or maintained by the recipient’s financial institution.

Misdirected Payment means an NPP Payment erroneously credited to the wrong account because of an error in relation to the recording of the PayID or associated account information in the PayID service.

Misdirected Payment shall have the meaning set forth in Section 2.5(g).

Examples of Misdirected Payment in a sentence

• Where we and the sending financial institution determine that an NPP Payment made to your Account is either a Mistaken Payment or a Misdirected Payment, we may, without your consent, and subject to complying with any other applicable Terms and Conditions, deduct from your Account, an amount up to the original amount of the Mistaken Payment or Misdirected Payment.

• If the Receiving Bank is unable to recover the funds from the unintended recipient, the account holder will be liable for losses arising from the Mistaken Internet Payment or Misdirected Payment.

• The sending institution does not have either a due from depository institution deduction or a cash item in the process of collection.K.2. Misdirected Payment.

• Where a user reports a Mistaken Internet Payment or Misdirected Payment, ANZ will investigate whether a Mistaken Internet Payment or Misdirected Payment has occurred.

• A user may report a Mistaken Internet Payment or Misdirected Payment using ANZ Internet Banking.

More Definitions of Misdirected Payment

Misdirected Payment means any form of payment in respect of a Batch Receivable made by an Obligor in a manner other than as provided in the Notice sent to such Obligor.

Misdirected Payment means a Debtor Invoice Payment that is paid to the Client, or to an Affiliate of Client, or to a third party, and that is not paid by the Debtor into the Payplant controlled Lockbox Account as required by Section 8 of this Agreement.

Misdirected Payment means any form of payment in respect of a Receivable made by an Obligor in a manner other than as provided in the Notice sent to such Obligor.

Misdirected Payment means a payment made by a user using a PayID where funds are paid into the account of an

Misdirected Payment any payment on an Account, which has been received by Borrower and not delivered in kind by Borrower to Lender within three (3) Business Days of receipt thereof.

Misdirected Payment shall have the meaning set forth in Section 2.11(f).

Misdirected Payment means a payment made by a user using a PayID where funds are paid into the account of an unintended recipient because the PayID wasn’t correctly created or maintained by the recipient’s financial institution (this definition will apply to your account from 1 June 2018)