Common use of ACH Transfers Clause in Contracts

ACH Transfers. The Customer authorizes the Broker, at its discretion and without further prior notice, to utilize an electronic check process or Automated Clearing House (“ACH”) facility to draft funds in the amount of any of the Customer checks payable to the Broker, its agents or assigns. Money deposited via ACH is normally not available for withdrawal for five (5) to ten (10) business days. Within calendar 63 days of the date of the Customer’s ACH deposit, the Customer’s funds may only be withdrawn to the bank account from which such funds were deposited. The Customer understands that for the ACH transfers to be established, at least one common name must match exactly between the Customer Accounts at the Broker and bank accounts. To send and receive ACHs, The Customer’s bank must be a member of the ACH system. For ACH transactions, the Customer hereby grant the Broker limited power of attorney for purposes of redeeming any shares in the Customer Account and direct the Broker to accept any orders to make payments to an authorized bank account and to fulfill these orders through the redemption of shares in the Customer Account. In addition, if the Customer or any joint account owner decides to rescind an ACH transfer, the Customer hereby directs and grants the Broker power of attorney to redeem any shares necessary to fulfill and make such rescission regardless of whether the Customer incurs any loss. An ACH bank reversal may occur when (A) there are insufficient funds in the Customer bank account, (B) there is a duplicate transaction, (C) the transaction is denied, or (D) the type of account is incorrect. The Customer acknowledges that in the event of an ACH bank reversal, the Customer will incur a fee. Before making an ACH transfer, the Customer agrees to check the Broker’s most recent Commissions and Fees Schedule, available at xxxxx://xxxxxxxx.xxx/legal. The Customer agrees to be solely liable and responsible for any ACH reversal fees that the Customer incurs.

ACH Transfers. The Customer authorizes the Broker, at its discretion and without further prior notice, whether as part of a single or recurring instruction, to utilize an electronic check process or Automated Clearing House (“ACH”) facility to draft funds in the amount of any of the Customer checks payable to the Broker, its agents or assigns. Money deposited via ACH is normally not available for withdrawal for five (5) to ten (10) business days. Within calendar 63 days of the date of the Customer’s ACH deposit, the Customer’s funds may only be withdrawn to the bank account from which such funds were deposited. The Customer understands that for the ACH transfers to be established, at least one common name must match exactly between the Customer Accounts at the Broker and bank accounts. To send and receive ACHs, The Customer’s bank must be a member of the ACH system. For ACH transactions, the Customer hereby grant the Broker limited power of attorney for purposes of redeeming any shares in the Customer Account and direct the Broker to accept any orders to make payments to an authorized bank account and to fulfill these orders through the redemption of shares in the Customer Account. In addition, if the Customer or any joint account owner decides to rescind an ACH transfer, the Customer hereby directs and grants the Broker power of attorney to redeem any shares necessary to fulfill and make such rescission regardless of whether the Customer incurs any loss. An ACH bank reversal may occur when (A) there are insufficient funds in the Customer bank account, (B) there is a duplicate transaction, (C) the transaction is denied, or (D) the type of account is incorrect. The Customer acknowledges that in the event of an ACH bank reversal, the Customer will incur a fee. Before making an ACH transfer, the Customer agrees to check the Broker’s most recent Commissions and Fees Schedule, available at xxxxx://xxxxxxxx.xxx/legal. The Customer agrees to be solely liable and responsible for any ACH reversal fees that the Customer incurs.

ACH Transfers. The Customer authorizes the Broker, at its discretion and without further prior notice, to utilize an electronic check process or Automated Clearing House (“ACH”) facility to draft funds in the amount of any of the Customer checks payable to the Broker, its agents or assigns. Money deposited via ACH is normally not available for withdrawal for five (5) to ten (10) business days. Within calendar 63 days of the date of the Customer’s ACH deposit, the Customer’s funds may only be withdrawn to the bank account from which such funds were deposited. The Customer understands that for the ACH transfers to be established, at least one common name must match exactly between the Customer Accounts at the Broker and bank accounts. To send and receive ACHs, The Customer’s bank must be a member of the ACH system. For ACH transactions, the Customer hereby grant the Broker limited power of attorney for purposes of redeeming any shares in the Customer Account and direct the Broker to accept any orders to make payments to an authorized bank account and to fulfill these orders through the redemption of shares in the Customer Account. In addition, if the Customer or any joint account owner decides to rescind an ACH transfer, the Customer hereby directs and grants the Broker power of attorney to redeem any shares necessary to fulfill and make such rescission regardless of whether the Customer incurs any loss. An ACH bank reversal may occur when (A) there are insufficient funds in the Customer bank account, (B) there is a duplicate transaction, (C) the transaction is denied, or (D) the type of account is incorrect. The Customer acknowledges that in the event of an ACH bank reversal, the Customer will incur a fee. Before making an ACH transfer, the Customer agrees to check the Broker’s most recent Commissions and Fees Schedule, available at xxxxx://xxxxxxxx.xxx/legalHERE. The Customer agrees to be solely liable and responsible for any ACH reversal fees that the Customer incurs.