Money Remittance Services definition

Money Remittance Services means services for the transmission of money (or any representation of monetary value) without any payment accounts being created in the name of the payer or the payee, where: (a) funds are received from a payer for the sole purpose of transferring a corresponding amount to a payee or to another payment services provider acting on behalf of the payee; or (b) funds are received on behalf of, and made available to, the payee;

Money Remittance Services means the provision of payment services by MEL to a Client without the use of a Client E-Money Account, including the fulfilment of a Payment Instruction, as set out in Parts 2 to 4 of these Terms.

Money Remittance Services means the service that we provide to you to enable you to transfer funds to, and receive funds from, people and businesses in the UK and overseas;

Examples of Money Remittance Services in a sentence

• These range from Online Banking to Mobile Banking, along with SMS Banking, Mobile Phone Cash Top Up facility and overseas SWIFT Money Remittance Services through which Commercial Bank has improved “Banking Convenience” in the country.

• The most relevant regulations in this regard are the PAPSS Guidelines, the Guidelines on Inter- national Money Transfer Services in Nigeria (the “IMTS Guidelines”) and the Guidelines on Inter- national Mobile Money Remittance Services (the “IMMRS Guidelines”).

• The most relevant regulations in this respect are the Pan African Payment and Settlement Systems (PAPPS) Guidelines, the Guidelines on International Money Transfer Services in Nigeria (the “IMTS Guidelines”) and the Guidelines on International Mobile Money Remittance Services (the “IMMRS Guidelines”).

• Kinds of Deposits (Demand Deposits, Term Deposits Hybrid Deposits / Flexi Deposits), Non-Resident Accounts, Joint Accounts, Nomination ,Closure of Deposit Accounts Deposit Insurance Fund- based Services (For Business, For Individuals) Non-Fund-based Services (For Business, For individuals) Money Remittance Services (Demand Draft / Banker’s Cheque / Pay Order NEFT, RTGS, SWIFT Banking Channels.

• Its main product offering incudes Packages (bundled Current and Savings Accounts), Credits (loans & overdrafts), Money Remittance Services, placement and E-Products (Mobile Banking, E-Queue).

• Funds Transfer Services The next business day Money Remittance Services (Vanilla) The next business day.

More Definitions of Money Remittance Services

Money Remittance Services means services that GCEN provides to Clients to enable the Clients to send funds to a place outside Hong Kong, receive funds from a place outside Hong Kong or receives fund in a place outside Hong Kong;

Money Remittance Services means the provision of payment services by MCI to a Client without the use of a Client Payment Account, including the fulfilment of a Payment Instruction.

Money Remittance Services services, in which the funds of a payer are accepted only for transferring the corresponding amount onto the payee or to another payment service acting on behalf of the payee without setting up a payment account in the name of the payer or the payee, or in which the funds are accepted on the payee's behalf and made available to the payee. ● Payment Initiation Services: services, which at the request of the payment service user trigger a payment order in relation to a payment account held at another payment service provider.