Payor Financial Institution definition

Payor Financial Institution means the United States Financial Institution ordered in an Item to make payment to the payee(s) named on the Item.
Payor Financial Institution means the United States Financial Institution ordered in a Check to make payment to the payee(s) named on the Check.
Payor Financial Institution means the United States Financial Institution ordered in an Item to make payment to the payee(s) named on the Item. "Regulation CC" means 12 C.F.R. Part 229, as it may be amended from time to time.

Examples of Payor Financial Institution in a sentence

  • If a Payor Financial Institution or other third party makes a claim against Bank or seeks a re-credit with respect to any Check processed hereunder, Bank may provisionally freeze or hold aside a like amount in the Account pending investigation and resolution of the claim.

  • If you submit the original voided Item for processing, we reserve the right to refuse to process the Item for deposit and presentment to the Payor Financial Institution and may instead require you to have the maker reissue the Item.

  • If a Payor Financial Institution returns an item to Bank, Bank will charge the Account for such returned item, and may either (i) return the item to Customer, or (ii) re-present it to the Payor Financial Institution before returning it to Customer.

  • Payor Financial Institution: The United States Financial Institution ordered in a Check to make payment to the payee(s) named on the Check.

  • Customer Representations and Warranties You understand and agree that an item or its corresponding electronic Item that is not paid by a Payor Financial Institution, or is otherwise returned for any reason, will be returned to you and your account charged for the amount of the Item or corresponding electronic Item plus any associated fee as disclosed in our Schedule of Fees – Business Banking herein.


More Definitions of Payor Financial Institution

Payor Financial Institution the United States Financial Institution ordered in a Check to make payment to the payee(s) named on the Check.
Payor Financial Institution means the U.S. financial institution ordered in a
Payor Financial Institution means the United States Financial Institution ordered in an Item to make payment to the payee(s) on the Item.
Payor Financial Institution means the United States Financial Institution ordered in an Item to make payment to the payee(s) named on the Item. Product "Product" means collectively the procedures, protocols, and software used by Credit Union and its licensors and contractors in connection with the electronic processing of Items, and includes without limitation the Services.
Payor Financial Institution means a United States bank, savings and loan association, credit union, clearinghouse or a government agency that pays or clears Checks in the regular course of its operations or business that is to make payment of an Item to the payee(s) named on the Item.
Payor Financial Institution means the Financial Institution ordered in an Item to make payment
Payor Financial Institution means the United States Financial