Sponsoring Bank definition

Sponsoring Bank shall have the same meaning as that defined in the “Bye-Laws of Singapore Clearing House Association in respect of G3”; “Sponsored User” shall have the same meaning as that defined in the “Bye- Laws of Singapore Clearing House Association in respect of G3”;

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Sponsoring Bank means a sponsoring bank that accepts the Customer request to become Direct Debit Originator, in this case ADIB.

Sponsoring Bank means the bank that sponsors a Terminal on behalf of Customer pursuant to the applicable Network Rules.

Examples of Sponsoring Bank in a sentence

• In the unlikely circumstance Your Sponsoring Bank rejects the Access EDD Website and requests changes which, acting reasonably and in good faith, We are unable or unwilling to make, We reserves the right to immediately terminate this Agreement on written notice without any further liability (subject to clause 16 of Schedule 1 to these Terms and Conditions) to You.

• If You lose Your status as being approved for PDD by Your Sponsoring Bank, You must immediately inform Us of that fact and We may (at Our option and subject to clause 16, Schedule 1 to these Terms and Conditions, without liability to You) immediately terminate or suspend the provision of the eDirect Debit Services without notice to You.

• However, unless and until You are approved for PDD by Your Sponsoring Bank, the Access EDD Website will not be made available to You.

• If Youare not approved for PDD, We will use reasonable endeavours to assist You in obtaining approval for PDD from Your Sponsoring Bank.

• If You are not approved for PDD, We will use reasonable endeavours to assist You in obtaining approval for PDD from the Your Sponsoring Bank.

• However, unless and until You are approved for PDD by the Your Sponsoring Bank, the Access EDD Website will not be made available to You.

• By signing this Participation Agreement, the Participant and Contractor also agree to contemporaneously enter into the Local Government Participant Sub-Merchant Processing Agreement in substantially the same form included in Addendum C, Relevant Portions of the BAFO, with the Contractor’s processor and the Sponsoring Bank.

• Customer will comply with all requirements, policies and procedures set forth by the Sponsoring Bank, and CDS will comply with all Sponsoring Bank requirements, policies and procedures that pertain to third party processors.

• Cardtronics shall not be required to provide Services with respect to a Terminal until (a) Customer has obtained a Sponsoring Bank providing Network access for such Terminal, (b) Customer has completed and delivered to Cardtronics a Terminal Set-up Form and an ACH Authorization, which may be required, for the applicable Account and (c) Cardtronics has, by notice to Customer or commencement of Services to such Terminal, accepted such Terminal Set-up Form and ACH Authorization.

• You must ensure that an approved letter of Advanced Notification is sent to each customer (the format of which has been approved by the Sponsoring Bank), quoting the frequency, date of first collection, amount of payment, Your SUN, and the DD Reference of the Instruction., This must be sent within 3 working days of its capture where the DDI has been collected by telephone or internet, and a minimum of 10 working days in advance of the first collection where the DDI has been collected by paper means.

More Definitions of Sponsoring Bank

Sponsoring Bank or “Acquiring Bank” is the participant that sponsors the User’s Payment Instructions.

Sponsoring Bank shall have the same meaning as that defined in the “Bye-Laws of Singapore Clearing House Association in respect of G3”; “Sponsored User” shall have the same meaning as that defined in the “Bye-Laws of Singapore Clearing House Association in respect of G3”; “start of a business day” means the time of a business day from which the host system is ready and able to process Transactions for value on that day; “SWIFT” means the Society for Worldwide Interbank Financial Telecommunication SCRL, a society established and registered in Belgium that has set up an international value-added transport network for the provision of SWIFT Messaging Services;

Sponsoring Bank means the Collecting Bank which is responsible for supporting the Creditor’s application to join a National Scheme where this support is required under applicable National Scheme rules.

Sponsoring Bank means a banking institution licensed in terms of the Banking Institutions Act, 2023, as amended, which the payment service provider has entered into an agreement with to offer payment services;

Sponsoring Bank means the registered bank in the Territory that is the accountable financial institution under applicable Law in respect of Transaction Amounts that constitute deposits under applicable Law;

Sponsoring Bank means the participant bank with which the user entered into a user agreement;