Payee Account definition

Payee Account means an account or accounts (whether maintained with the Bank or with another financial institution recognised by the Bank for the purposes of the Services, or certain of them) in the name of the Payee to which the Customer may transfer funds by debiting an Originating

Payee Account means the Account Company’s Payment Instructions indicate to credit.

Payee Account is the account held by the Payee.

Examples of Payee Account in a sentence

• You agree to save, indemnify, defend, and hold us harmless from any claim, demand, suit, or other charge by any person or entity arising out of or resulting from the establishment, maintenance, and transaction of any business related to a Representative Payee Account or any other Account designated for the receipt of government benefits.

• Subject to applicable law, a Representative Payee Account is a type of fiduciary account in which a representative xxxxx (appointed by the Social Security Administration) manages Social Security and Supplemental Security funds received on behalf of a beneficiary.

• At our option, we may accept deposits in Accounts established in a member’s name and for the member’s benefit by an individual appointed as a Social Security Administration or Veterans Administration “Representative Payee.” Funds in a Representative Payee Account are owned by the member beneficiary.

• You hereby authorize Us to use and store your Payee Account Information and to access your accounts on Payee Sites to provide the Payment Service to you and to configure the Payment Service so that it is compatible with the applicable Payee Sites.

• You represent and warrant to Us that you are the legal owner of any accounts on Payee Sites that you access via the Payment Service and that you have the authority to allow Us to access your accounts using your Payee Account Information on your behalf.

• Funds in a Representative Payee Account are owned by the member beneficiary.

• In order to use the Payment Service, you will need to link your accounts on Payee Sites to the Payment Service by providing Us with the information necessary to access such accounts (such as account usernames and passwords) ("Payee Account Information").

• At our option, we may issue shares and accept deposits in Accounts established in a member’s name and for the member’s benefit by an individual appointed as a Social Security “Representative Payee.” Funds in a Social Security Representative Payee Account are owned by the member beneficiary.

• It is your responsibility to review all payment transactions you initiate using the Payment Service against account statements you receive from Us. You acknowledge that some transactions may take longer to be credited to your account on a Payee Site due to circumstances beyond Our control, such as delays in handling and posting payments, errors with Payee Account Information, or errors with funding instructions.

• Pertinent details include the Payee Account Number (PAN) if the payment originated from PMS, or Agency information if the payment originated from ASAP, NSF or another federal agency payment system.

More Definitions of Payee Account

Payee Account means the account designated by Customer for the receipt of National Currency in an Exchange Transaction.

Payee Account means any account(s) belonging to a Payee and approved by CIBC FirstCaribbean, in writing, for inclusion in the E-Pay Services provided to Customer.

Payee Account means the Account Third-Party Sender’s Payment Instructions indicate to credit.

Payee Account means a payment account of the Payee held with CD, a bank, or any other payment service provider.

Payee Account means an account, in addition to your Nominated Account, to which you can transfer funds from your Cash Account.

Payee Account is your Account with your Payee. “Payment Instruction” is the information provided by you to us for a Bill Payment to be made to the Payee (such as, but not limited to, Payee name, Payee Account number and Scheduled Payment Date).