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
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Payee Account means the Account Company’s Payment Instructions indicate to credit.
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Payee Account is the account held by the Payee.
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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.

  • In the case of any Alternate Payee Account, payments to the Alternate Payee must be made in accordance with the Plan and Section 401(a)(9) of the Code.

  • 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.

  • Upon segregation of the assets payable to an Alternate Payee in an Alternate Payee Account or the payment of such benefits to the Alternate Payee, any such amounts paid or segregated shall no longer constitute part of the Participant’s Plan Benefit.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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 Social Security Representative Payee Account or any other Account designated for the receipt of government benefits.


More Definitions of Payee Account

Payee Account means an account, in addition to your Nominated Account, to which you can transfer funds from your Cash Account.
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Payee Account means the account designated by Customer for the receipt of National Currency in an Exchange Transaction.
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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).
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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.
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Payee Account means the Account Third-Party Sender’s Payment Instructions indicate to credit.
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Payee Account means a payment account of the Payee held with CD, a bank, or any other payment service provider.
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Related to Payee Account

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Retention Account means an interest bearing Dollar account of the Borrowers opened or (as the context may require) to be opened jointly by the Borrowers with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be a Retention Account for the purposes of this Agreement;

  • Note Account As defined in the Indenture.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2(a)(ii) as a sub-account to the Collection Account.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Administration Account As defined in Section 7.02.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Collection Accounts As defined in Section 3.10(a).

  • Direct Account : means any Account which is not an ISA Account.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.