Transaction Bank definition

Transaction Bank means BNYM in its capacity as transaction bank and its permitted successors or assigns from time to time or any other person for the time being acting as transaction bank pursuant to the Cash Allocation, Management and Payments Agreement.
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Transaction Bank means BNP Paribas Securities Services, Milan Branch, a company incorporated under the laws of the Republic of France, acting through its Milan branch, having its registered office at Piazza Lina Bo Bardi, 3, 20124, Milan.
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Transaction Bank means BNP Paribas Securities Services, Milan Branch, or any other entity from time to time acting as transaction bank.
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Examples of Transaction Bank in a sentence

  • If Bank has credited the Operating Account or Reserve Account for such a Transaction, Bank may return the Transaction to the Merchant, and Merchant shall pay Bank the amount of the Transaction.

  • If Merchant presents to Bank for collection any prohibited Transaction, Bank may: (a) immediately terminate this Agreement; (b) withhold funds and establish a Reserve Account as provided herein; and (c) report Merchant to Visa, MasterCard and Discover’s MATCH file.

  • Following Authorization of a Transaction, Bank shall receive incoming Transactions and submit to the central computer switching system for the exchange of Card Transaction data between Merchants and Issuer (Debit Interchange) for settlement and collection.

  • The Customer further hereby expressly consents to, authorises and instructs Decapay to deduct any applicable Late Fee, or any Fee incurred by Decapay in the pursuit of monies owed to it by the Customer from the Transaction Bank Account.

  • In case of the Customer´s default, Decapay will attempt to subsequently process Direct Debits in the Transaction Bank Account.

  • The Customer acknowledges that it gives Decapay the ability to collect or reverse variable payment amounts from or to the Transaction Bank Account, in accordance with the Payment Schedule and the terms of this Agreement.

  • The Customer is liable for any fees or charges imposed by the Transaction Bank Account, except to the extent that such fees or charges arise as a result of Decapay error or system failure.

  • Subject to the other terms of this Agreement, the Customer hereby expressly authorises and instructs Decapay (including Payment Service Providers working on behalf of Decapay) to deduct any amounts payable in accordance with this Agreement from the Transaction Bank Account as per the amounts described in the Payment Schedule, on the respective dates detailed in the Payment Schedule.

  • For each Transaction, Bank may charge Merchant as follows: (a) Actual Card Association interchange and assessments; and/or; (b) An amount (“Merchant Discount Fees”) equal to a specified percentage of the total cash price of each sales and cash withdrawal transaction (“Merchant Discount Rate”); (c) A specified amount per Transaction (“Transaction Fee”); and (d) A specified amount per Authorization (“Authorization Fee”).

  • The FNB Transaction Bank Account Terms and Conditions will apply for use of cheque and debit cards and the FNB Credit Card Account and Credit Facility Terms and Conditions will apply for use of credit card.