Originating Account definition

Originating Account or “Account” means those account(s) maintained with the Bank in the name of the Customer, whether in sole or joint names, nominated by the Customer for access through the Services.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Originating Account means an Account or suspense account maintained with the Bank in the name of the Customer, whether in sole or joint names, which may be nominated by the Customer for access through the Services and from which money may be withdrawn. The Originating Account is also known as the ‘pay from’ account.

Originating Account means those account(s) maintained with the Bank in the name of the Customer, whether in sole or joint names, nominated by the Customer for access through the Services and from which money may be withdrawn.

Examples of Originating Account in a sentence

• Originating Account A payment account managed by a Payment Service Provider belonging to the Payer.

• You authorize us and our Service Providers to act as your agent, including debiting the Originating Account and remitting funds to the Receiving Account; obtaining information about the Third Party Account (including User Data); and take other action as we or our Service providers deem consistent with the instructions you provide with respect to the Services.

• We may, to the extent permitted by law, attempt to return any unclaimed, refused, refunded, prohibited, failed, or denied transaction, or take other action to return the funds to the Originating Account.

• We will invoice the Originating Account Customer for the Charges on a monthly basis (or such other period as may be agreed between the Originating Account Customer and us) and the Originating Account Customer authorises us to debit the Charges shown on the invoice from the Originating Account (or such other account as may be agreed between the Originating Account Customer and us).

• The Originating Account Customer will be responsible for paying any applicable taxes and duties at the applicable rate, save that if any taxes or duties are payable for the same reason in the same amount by the Receiving Account Customer, the payment of those taxes or duties by the Receiving Account Customer will satisfy the obligation to pay those amounts by the Originating Account Customer.

• The Originating Account from which funds are transferred may be a deposit account (e.g., savings or checking) account, or HSFCU line of credit.

• Each of the Originating Account Customer and the Receiving Account Customer must promptly inform us if any representation or warranty given by it and contained in these Product & Services Terms & Conditions ceases to be true.

• All payments you make through the Bill Payment Service will be deducted from your Originating Account.

• All Wires must originate from a Canadian or U.S. dollar Originating Account.

• Upon receipt of Approval, ATB Financial is authorized to debit the Originating Account for the amount of such Wire plus any applicable fees, charges or interest payable as outlined in this Agreement or another agreement between Client and ATB Financial regardless of whether there are sufficient funds in the Originating Account.

More Definitions of Originating Account

Originating Account means, in a Points-Roll-Up scenario only, a Rewards Account from which Points “roll-up” to a Recipient Account.

Originating Account means the account of a party in an allowance transfer from which NOx allowances are transferred through whatever means, including but not limited to purchase, trade, auction, or gift. An originating account may be a compliance account, an overdraft account, or a general account.

Originating Account has the meaning specified in Section 6.13(l)(iii).

Originating Account means an Account or suspense account maintained with the

Originating Account means the Accounts at CWB which are set up for CWB to debit Wire amounts;

Originating Account means the Client’s account at ATB Financial which is set up for ATB Financial to debit Wire amounts;