ACH Services definition

ACH Services means the provision of access, through the use of routing and transit numbers, to the ACH processing, clearing and settlement capability offered by the Federal Reserve Bank.

ACH Services means Services whereby Metavante will (i) initiate and/or receive automated clearing house debit and credit entries, and adjustments to debit entries and credit entries to Customer’s account, (ii) credit and/or debit the same to such account. Customer authorizes Metavante to act as Customer’s third-party processor for initiating, transmitting, and/or receiving ACH entries. If agreed to between Customer and Metavante, Metavante shall provide for the posting of ACH entries to Customer deposit accounts. Metavante shall provide reports to Customer showing errors and rejections resulting from ACH entries transmitted on behalf of Customer during a particular day. It shall be Customer’s responsibility to review such reports and correct erroneous ACH entries.

ACH Services means the funds transfer services as offered by Bank by use of an Automated Clearing House (ACH) network financial transaction in the United States.

Examples of ACH Services in a sentence

• Customer shall be responsible for compliance with all applicable laws, rules, and regulations regarding Customer’s use of and/or access to the ACH Services, including applicable rules and regulations of the National Automated Clearing House Association (“NACHA”).

• Bank grants Company a non-exclusive and non-assignable sublicense to use the Software solely for the purpose of initiating entries in accordance with the provisions of the license (a copy of which is available to Company on request), this ACH Services Description and the other Service Documentation.

• In providing ACH Services for Customer, Metavante acts as Customer’s third-party service provider and is not itself an “Operator,” “Originator,” “ODFI,” or “RDFI” (as defined under NACHA rules).

• Metavante’s liability to Customer for claims arising out of the ACH Services performed by Metavante pursuant to this Agreement shall be limited to the processing of appropriate corrected ACH entry(ies).

• The automated clearing house services ("ACH Services") to be provided by M&I shall be subject to the terms and conditions set forth on attached Schedule 5.3.

More Definitions of ACH Services

ACH Services mean the services described in the Electronic Transaction Services Exhibit to the Agreement.

ACH Services mean the nationwide batch-oriented electronic funds transfer system governed by the NACHA OPERATING RULES which provide for interbank clearing of electronic payments for participating depository financial institutions.

ACH Services means the ACH processing services provided hereunder by iStream in conjunction and accordance with the ACH Rules for ACH processing; “Bank” means a third party financial institution functioning in part as the clearing and/or settlement agent to clear and settle Company’s ACH Files hereunder for iStream; “Entry” or “Entries” means individual Payment Information and/or ACH Files, as the case may be, submitted by Company or its customers to iStream for processing, clearing and settlement; and “Payment Information” means payment-related data entered into the iStream Deposit® system by Company or its customers so that iStream can create ACH Files from such information.

ACH Services mean the service(s) described in ACH Origination Terms.  "ACH Transaction(s)" mean ACH Debit Transactions and ACH Credit Transactions.

ACH Services means Bank’s ACH origination services that allow the Customer to be an Originator of ACH Entries.

ACH Services means the services provided by us through which you may initiate electronic signals for paperless debit entries and credit entries to accounts maintained by us or by other depository financial institutions, by means of ACH.

ACH Services means the provision by Bank to SPV, or Servicer on behalf of SPV, through use of the Transit Numbers, of access, pursuant to the terms of this Agreement, to the ACH processing, clearing, and settlement capability offered by the Federal Reserve Bank to Bank through Bank's account at the Federal Reserve Bank.