Common use of ACH PROCESSING Clause in Contracts

ACH PROCESSING. When requested by Merchant, PNX will also provide ACH processing services at the rates specified in Schedule ▇. ▇▇▇▇▇▇▇▇ agrees that information supplied in this application may be used to establish a separate ACH account. If this service is requested, ▇▇▇▇▇▇▇▇ understands that a personal credit review may be deemed necessary and authorizes such an action. ▇▇▇▇▇▇▇▇ agrees that Bank and PNX will deduct processing fees from the Operating Account or Reserve Account on a daily basis unless a monthly basis is specified on Schedule A. Merchant also agrees to pay Bank or PNX the amount of any fees, charges or penalties assessed against Bank or PNX. ▇▇▇▇▇▇▇▇ agrees to abide by all National Automated Clearing House Association (NACHA) rules and regulations governing ACH processing and use of their networks.