Remitter Bank definition

Remitter Bank means a bank holding a bank account of the Payer where the Debit of the UPI instruction is received from the Payer to be executed on real time basis.
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Remitter Bank means the payer bank where the Remitter maintains the bank account.
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Remitter Bank means a bank holding a bank account of the Payer (remitter) where the Debit of the UPI instruction is executed on real time basis.
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Examples of Remitter Bank in a sentence

  • Remitter Bank debits the amount from the Customer’s account and sends the confirmation to UPI.

  • The Protocol is based, as with the codes of conduct, on voluntary participation and is not legally binding.

  • The otherwise required defendable space is reduced through the provision of a private bushfire shelter.

  • The Payment Order issued by the Customer, in the form as prescribed by the Remitter Bank or payment service providers, should be complete in all particulars & details.

  • It can be initiated in cases where the Payer PSP &Remitter Bank are same entity.

  • If the Bank as the Payer’s (Remitter) Bank can prove that the Payment amount has been credited to the account with the Beneficiary Bank the Beneficiary Bank shall be held liable for correct execution of the respective Payment in relation to the Beneficiary.

  • YES Bank continues to outperform peers in the new age payments space• UPI: Highest Market share in UPI Merchant Payments volumes as per NPCI.• Processed ~ 64 Crore transactions amounting to ~` 97,000 Crores in Q4FY19• 8X YoY growth in vol.; 143 Crore transactions processed in FY19• IMPS: Consistently ranked 1st as Remitter Bank, by NPCI in the peer group for FY19.

  • Pre-approved transactions are those transactions where the Payer PSP & Remitter Bank are one entity and the transaction is received to NPCI only after debiting the Remitter’s account.

  • Beneficiary Bank has not serviced the request after receiving authorization from Remitter Bank through NPCISuch cases will be considered as technical declines and treated as in the normal scenario.

  • The Remitter Bank debits the amount fromthe Customer’s account and sends the confirmation to UPI.


More Definitions of Remitter Bank

Remitter Bank means the Bank of RDS Account Holder from which RDS amount is transferred to IRCTC Account.
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Related to Remitter Bank

  • School administrator means a superintendent, principal or his/her designee assistant principal//technical center director or his/her designee and/or the District’s Equity Coordinator.

  • The Bank means the Bank of India;

  • PMI means the default insurance provided by private mortgage insurance companies.

  • Insurance Provider s Tender” means the completed Tendering Document submitted by the Insurance Provider to the Procuring Entity