ACH Rules. All ACH funds transfers to and from your Account are subject to the requirements of ACH Rules, including without limitation provisions in the ACH Rules providing us authorization to initiate entries on your behalf and allowing us to audit your compliance with the ACH Rules and these ACH Terms and Conditions. You agree that it is your sole responsibility to familiarize yourself with the ACH Rules (as amended from time to time). You agree to give us complete and accurate information for any ACH funds transfer you request or authorize to or from your Account, as required by applicable law and ACH Rules. You also agree to make to us all representations and warranties that we are required to make, as the originating depository financial institution (ODFI), pursuant to ACH Rules and applicable law to the financial institution holding the deposit account to or from which you request or authorize an ACH funds transfer involving your Account. In connection with your election to make ACH payments to or from your Account through our secure online banking portal, you provide the following ACH authorization and agreement for all ACH transactions made to or from your Account ("ACH Authorization and Agreement”) and certify and agree as follows: (i) you are the owner of the External Account whose number(s) you have supplied and designated as a funding source for your Account and (ii) you authorize us to initiate credit or debit entries between your External Account and your Account from time to time until your Account is closed and no further credits or debits are authorized or permitted under this Agreement. You agree that the losses and damages covered by the “Indemnification” provision in the Agreement include without limitation fees, costs, and other expenses (including without limitation fines) we may be required to pay pursuant to ACH Rules and applicable law in connection with ACH funds transfers you request or authorize that do not comply fully with applicable law and ACH Rules.
Appears in 3 contracts
Sources: Business Checking Account Agreement, Business Checking Account Agreement, Business Checking Account Agreement