ACH Transfers. If offered, you may initiate or receive credits or debits to your account via ACH transfer. You agree that if you receive funds by an ACH transfer, WECU is not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. Credit given by WECU to you with respect to an ACH credit entry is provisional until WECU receives final settlement for such an entry through a Federal Reserve Bank. If WECU does not receive such final settlement, you are hereby notified and agree that WECU is entitled a refund of the provisional amount credited to you in connection with such entry, and the party making payment to you, i.e. the originator of the entry, via such entry shall not be deemed to have paid you the amount of such entry. WECU (and other institutions) may rely on the account or other identifying number you give as the proper identification number, even if it identifies a different party or institution. ACH transactions are governed by the rules of the National Automated Clearing House Association (NACHA). Under those rules, WECU is not required to give next day notice to you of receipt of an ACH item, and WECU will not do so. However, WECU will continue to notify you of the receipt of ACH payments in your periodic statement.
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Samples: Membership and Account Agreement, Membership and Account Agreement, Account Agreement
