Define: External Account

How is External Account defined in a legal contract?

• External Account means an account at another financial institution where you are either transferring funds from your Eligible Transaction Account or to which you are transferring funds. Seen in 90 SEC filings.
• External Account means your account held with a financial institution that is not us and is registered for External Transfers. Seen in 12 SEC filings.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of external account' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• External Account means an account held at a [financial institution], distinct from your primary institution.

Relevant Contract Types

• Banking Agreement
• Loan Agreement
• Financial Services Agreement
• Transfer Agreement

Relevant Circumstances

• For transfers between different accounts
• For managing a fund or capital
• For external audits and financial inspections

Relevant Sectors

• Banking and Finance
• Accounting
• Consulting

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Genie Definition 2

• External Account means an account being used for transfers to or from your central transaction account.

Relevant Contract Types

• Payment Processing Agreement
• Merchant Services Agreement
• Business Account Agreement
• Outsourcing Agreement

Relevant Circumstances

• For setting up channels for inbound or outbound transfers
• For enriching the import and export business transactions
• For cross-border business dealings

Relevant Sectors

• E-commerce
• Trading
• Supply Chain Management

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