NACH Debit definition

NACH Debit means debit of money from the Customer Account through the
NACH Debit means debit of money from the Customer Account through the National Automatic Clearing House (NACH) platform of NPCI (National Payment Corporation of India) for corresponding credit to the Account in accordance with the Customer's Instruction or Mandate/ E- Mandate

Examples of NACH Debit in a sentence

  • Ne SIP Cap amount shall be less than or equal to the amount mentioned by the Investor in the NACH Debit Mandate.

  • In case the SIP Cap amount specified by the Investor is higher than the NACH Debit Mandate amount, then the amount mentioned in the NACH Debit Mandate shall be considered for applying Top-ups and processing of SIP installments until the end of SIP tenure.b. SIP Cap Month-Year: Investor shall have an option to freeze the SIP installment amount (including Top-ups applied at periodic intervals) from a prespecified month and year.

  • Authorization to Bank: This is to inform that I/We have registered for ECS / NACH (Debit Clearing) / Direct Debit / Standing instructions facility and that my/our payment towards my/our investment in Motilal Oswal Mutual Fund shall be made from my/our bank account with your Bank.

  • This is to inform that I/we have registered for NACH (Debit Clearing) facility and that my/our payment towards my/our investment in ICICI Prudential Mutual Fund shall be made from my/our above mentioned bank account with your Bank.

  • The SIP Cap amount shall be less than or equal to the amount mentioned by the Investor in the NACH Debit Mandate.

  • In case the SIP Cap amount specified by the Investor is higher than the NACH Debit Mandate amount, then the amount mentioned in the NACH Debit Mandate shall be considered for applying Top-ups and processing of SIP installments until the end of SIP tenure.b. SIP Cap Month-Year: Investor shall have an option to freeze the SIP installment amount (including Top- ups applied at periodic intervals) from a prespecified month and year.

  • The investor agrees to abide by the terms and conditions of NACH Debit / Auto Debit facility of Reserve Bank of India / Banks.

  • Authorization to Bank: This is to inform that I/We have registered for ECS / NACH (Debit Clearing) / Direct Debit / Standing instructions facility and that my/our payment towards my/our investment in MotilalOswal Mutual Fund shall be made from my/our bank account with your Bank.

  • In case the SIP Cap amount specified by the Investor is higher than the NACH Debit Mandate amount, then the amount mentioned in the NACH Debit Mandate shall be considered for applying Top-ups and processing of SIP installments until the end of SIP tenure.

  • Considering the protection available under section 25 of the Payment and Settlement Systems Act, 2007 which accords the same rights and remedies to the payee (beneficiary) against dishonour of electronic funds transfer instructions on grounds of insufficiency of funds as are available under section 138 of the Negotiable Instruments Act, 1881, there shall be no need for NBFCs to take additional cheques, if any, from customers in addition to NACH (Debit) mandates.

Related to NACH Debit

  • ACH debit means the EFT payment option in which the payer initiates the transfer of funds by authorizing the depart- ment’s depository bank to transfer the payment amount from the payer’s account.

  • Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;

  • Debit means a charge or an amount of money somebody must pay. If we debit money to you or debit money to your account, that money is then added to the unpaid balance and the unpaid balance becomes larger. In this case “charge” and “debit” have similar meanings.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Card Account means the account maintained with the Bank in respect of the Card;

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • ACH means automated clearing house transfers.

  • Debit Card means a card issued by Us that allows the holder of the card to deposit cash and Instruments or withdraw cash from the Account through an ATM, authorize Transactions on the Account through an ATM, and that operates like an Instrument to purchase goods and services from Merchants or that can be used with Mobile Payment Services. A virtual Debit Card is the electronic equivalent of a Debit Card when used with Mobile Payment Services. All references to “Debit Card” in this Agreement include a virtual Debit Card registered for use with the Mobile Payment Service.

  • Private label credit card means any charge card, credit card, or other instrument serving a similar purpose that carries, refers to, or is branded with the name or logo of a vendor and that can only be used for purchases from the vendor.

  • Capture system means all equipment (including, but not limited to, hoods, ducts, fans, booths, ovens, dryers, etc.) that contains, collects, and transports an air pollutant to a control device.

  • Card means credit, debit, smart or other charge or pre-paid cards branded as follows: Visa, Mastercard, American Express, Visa Debit, Solo, Maestro (subject to the Codes of Practice).

  • Credit Card Advance Rate means 90%.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Internet Banking means the service we offer by which you can access and transact on a nominated account by using a personal computer and accessing via our website. This includes transactions processed through the mobile banking facility as well as the smartphone app facility.

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • EFT means electronic funds transfer.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Electronic Data Interchange (EDI means technology that provides transaction related details, including invoice number(s), pay dates, and other identifying information as appropriate for each transaction.

  • Account Number means the identification number given by the U.S. EPA to each NOx allowance tracking system account.

  • Credit Card Issuer means any Person (other than a Loan Party) who issues or whose members issue credit cards or debit cards, including, without limitation, MasterCard or VISA bank credit or debit cards or other bank credit or debit cards issued through MasterCard International, Inc., Visa, U.S.A., Inc. or Visa International and American Express, Discover, Diners Club, Xxxxx Xxxxxxx and other non-bank credit or debit cards, including, without limitation, credit or debit cards issued by or through American Express Travel Related Services Company, Inc. or Discover Financial Services, Inc.

  • Cards means either a Visa, MasterCard, Discover or American Express credit card, debit card (or other similar card that requires a PIN for identification purposes), or pre-paid, stored-value or gift card.

  • Customer Account Information means personally identifiable information including Personal Data and Consumption Data. Customer Account Information also includes information received by the Company from the customer for purposes of participating in regulated utility programs, including, but not limited to bill pay assistance, shutoff protection, renewable energy, demand-side management, load management, or energy efficiency.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • BACS means the Banks Automated Clearing System;

  • ACH Transactions means any cash management or related services (including the Automated Clearing House processing of electronic fund transfers through the direct Federal Reserve Fedline system) provided by a Bank Product Provider for the account of Borrower or its Subsidiaries.

  • Account Information means any information relating to the Account including without limitation to the Account number, Account balance or value, gross receipts, withdrawals and payments to or from the Account.