Settlement Account definition

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.

Settlement Account means the bank account of the Customer designated as the Settlement Account in the Customer Information Statement or such other bank account of the Customer as the Customer may notify CSBHK in writing from time to time;

Settlement Account means the transactional banking account held with an Australian bank which is nominated by the Investor on its Application Form;

Examples of Settlement Account in a sentence

• However, the Company may opt to credit Customer’s Settlement Account based on pre-advice prior to actual receipt of final payment of cleared funds.

• The Company is not obligated to credit the Portfolio/Securities or cause the credit of Customer’s Settlement Account before receipt by the Company of corresponding and final payment of cleared funds.

• All checks/drafts or other instruments delivered to the Company or deposited in the Settlement Account as payment for the purchase of securities/instruments are accepted subject to clearing and final payment.

• Notice of withdrawals of cash or deposits from the Settlement Account, the Cash Account or the Deposit Account shall be lodged by the Customer to the Company in writing at least two (2) business days before the value date of the proposed withdrawals.

• Should there be a need of reversal or in the event of miscredit or excess payment, the Company is hereby expressly authorized to debit or cause the debit of the Customer’s Settlement Account or any of the Customer’s accounts with the Company, any member of the BPI Group or the custodian and/or sell or liquidate any securities or investments in the Customer’s Account with the Company or any member of the BPI Group or the custodian.

More Definitions of Settlement Account

Settlement Account is the checking account or other acceptable deposit account Merchant maintains at a depository institution acceptable to Provider for credit of Transactions by Merchant Bank and debit of Credit Vouchers, Chargebacks, Processing Fees, any fines, assessments or fees assessed by Card Networks or other governmental agency or entity having authority, and other reimbursement to which Provider may be entitled under this Agreement.

Settlement Account means an account at a central bank, a settlement agent or a central counterparty used to hold funds or securities and to settle transactions between participants in a system;

Settlement Account means the account maintained by Bank used for Settlement of all transactions initiated by use of a Card(s) by or on behalf of a Cardholder.

Settlement Account. A deposit account at a financial institution designated by Carrier as the account to be debited or credited, as applicable, for Net Activity.

Settlement Account means an Account managed by DBS Private Bank, whether in Singapore Dollars or any other currency, for purpose of effecting settlement in relation to any Investment, Transaction and/or Service made available by us.

Settlement Account means an account maintained with a financial institution including with the Settlement Bank that acts as agent for Clearing Corporation to facilitate payments from or to Settlement Bank’s / Member’s Account in an Eligible Currency;

Settlement Account means an account held at a Payment Integrated Financial Institution that has been registered with XXXX for source funding or disbursement (or both) that belongs to a Subscriber, using that Payment Integrated Financial Institution’s ESA.