Common use of ACH & Wire Transfers Clause in Contracts

ACH & Wire Transfers. If offered, you may initiate or receive credits or debits to your account via wire transfer or ACH (“Automated Clearing House”) transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. The Credit Union may provisionally credit your account for a wire or ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a transfer, or receives an authorized reversal transaction, it may reverse the provisional credit to your account. In such cases, the originator of the ACH transfer will not be considered to have paid you the amount of the transfer. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (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. The Credit Union reserves the right to confirm or verify information on all wire requests prior to sending the wire. Once the Credit Union has sent an outgoing wire, the transfer is final and cannot be stopped. If you provide incomplete or inaccurate transfer instructions, written or oral, the Credit Union will not be responsible for any resulting wire transfer losses, delays, or failed transactions. You understand international wire transfers may not be completed for up to four weeks or longer. Wire transfers are governed by Federal Reserve Regulation J if the transfer is cleared through the Federal Reserve. For a wires to be processed the same business day, it must be received by 11am PST for International wires and 1pm PST for Domestic wires. ACH transactions are governed by the rules of the National Automated Clearing House Association. You acknowledge that processing of international transactions may be delayed if necessary to complete OFAC screening. You must ensure that all international entries you initiate are designated with the appropriate code as required by the ACH Rules. All entries will be credited to or debited from your Account in U.S. Dollars. Currency conversion will be at rates determined by, or available to, us or the ACH. You will bear all currency conversion risk associated with international entries; you will bear all gains or losses associated with currency conversion for international entries.

ACH & Wire Transfers. If offeredprovided by the Credit Union, you may initiate or receive credits or debits to your account via wire transfer or ACH (“Automated Clearing House”) transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer Credit Union will be shown notify you of the credit or debit to your account by indicating the amount on your periodic statement. The Credit Union may provisionally credit your account for a wire or an ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a an ACH transfer, or receives an authorized reversal transaction, it we may reverse the provisional credit to your account or you will refund the amount to the Credit Union. If the payment instruction does not specify an account. In such cases, the originator of Credit Union may deposit the ACH payment into any share account which you maintain with us. No dividends will be paid on wire transfer will not be considered to have paid you payments deposited into your account unless the amount of the transferaccount otherwise pays dividends. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number you give as the proper identification numberidentification, even if it identifies a different party or institution. The Credit Union reserves the right may refuse to confirm accept or verify transmit a wire transfer request if any information on all wire requests prior provided is found to sending the wire. Once be incorrect, or if my account at the Credit Union has sent an outgoing wire, does not contain sufficient funds to cover the wire transfer is final amount and cannot be stoppedapplicable fee. If you I provide incomplete information that causes the wire transfer to be refused, rejected, or inaccurate returned, I may be charged additional fee(s) by the other financial institution. You may initiate a wire transfer instructions, written any time during a Funds Transfer Business Day. A Funds Transfer Business Day is considered to be Monday- Friday (except legal holidays) from 9:00 a.m. to 3:30 p.m. Any amendment or oral, cancellation of the wire transfer must be in writing and received by the Credit Union will not be responsible for any resulting prior to the transmittal of the wire transfer losses, delays, or failed transactionstransfer. You understand international When a wire transfers may not be completed for up to four weeks or longer. Wire transfers are governed by Federal Reserve Regulation J if the transfer is cleared through the Federal Reserve. For a wires to be processed , the same business day, it must be received wire transfer is governed by 11am PST for International wires and 1pm PST for Domestic wires. the Federal Reserve Regulation J. ACH transactions are governed by the rules of the National Automated Clearing House Association. You acknowledge that processing of international transactions may be delayed if necessary are responsible for assisting the Credit Union’s effort to complete OFAC screeningprotect your account from unauthorized access by third parties. You must ensure agree that all international entries we may verify the authenticity of payment orders using our security procedures in place at the time of any such order, which may include signature verification, requesting personal identifying documents or information, and/or calling you initiate are designated by phone. Except as otherwise limited by state or federal law, the Credit Union will hold you responsible for furnishing others with the appropriate code as required by the ACH Rules. All entries will be credited information that aids or enables them to or debited from access your Account in U.S. Dollars. Currency conversion will be at rates determined by, or available to, us or the ACHaccount(s). You will bear also be held responsible for failing to notify the Credit Union in a timely manner no later than 60 days from the date of the statement on which the unauthorized transaction occurred of improper or unauthorized access to your account(s). To the extent permitted by law all currency conversion risk associated costs, fees, and other liabilities that result from the Credit Union’s inability to stop a payment or other transaction that was initiated (with international entries; or without your authorization) based upon account information you will bear provided to a third party or due to your failure to timely notify the Credit Union of improper or unauthorized access to your account(s) are your responsibility. You are also responsible for reconciling your statement of account to confirm all gains transactions are accurate. In the event of any discrepancies, you must notify the Credit Union within a timely manner (not to exceed 60 days from the date of the statement). The Credit Union’s liability shall be limited to the amount of the transaction and dividends on that amount based on the lowest dividend rate applicable at the time of the account affected by the erroneous transaction for the time period from the date of the error until corrective action is taken, or losses associated with currency conversion for international entries60 days, whichever is less.

ACH & Wire Transfers. If offered, you may initiate or receive credits or debits to your account via wire transfer or ACH (“"Automated Clearing House”") transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. The Credit Union may provisionally credit your account for a wire or an ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a transfer, or receives an authorized reversal transaction, it may reverse the provisional credit to your account, or you will refund the amount to the Credit Union. In such casesIf an item or ACH transfer is converted to or from a foreign currency, you assume all risks associated with the originator foreign exchange conversion, and agree that any loss resulting from any foreign exchange conversion will be allocated to you. Payment orders we accept will be executed within a reasonable time of receipt but may not necessarily be executed on the date they are received. Cutoff times may apply to the receipt, execution and processing of funds transfer, payment orders, cancellations, and amendments and if received after a cut- off time, may be treated as having been received on the next following funds transfer business day. Information about any cut-off times is available upon request. From time to time, we may need to suspend processing of a transaction for greater scrutiny or verification in accordance with applicable law, and this action may affect settlement or availability of the ACH transfer will not be considered to have paid you the amount of the transfertransaction. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union may require an authorization to be signed in person or a Wire Transfer Agreement to be on file. The Credit Union (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. The Credit Union reserves the right to confirm or verify information on all wire requests prior to sending the wire. Once the Credit Union has sent an outgoing wire, the transfer is final and cannot be stopped. If you provide incomplete or inaccurate transfer instructions, written or oral, the Credit Union will not be responsible for any resulting wire transfer losses, delays, delays or failed transactions. If a wire transfer is converted to or from a foreign currency, you assume all risks associated with the foreign exchange conversion, and agree that any loss resulting from any foreign exchange conversion will be allocated to you. International (non-USA destination) wires transfers, once transmitted outside the United States, are no longer under the jurisdiction of USA banking laws. Accordingly, the Credit Union cannot assume liability or guarantee the timeliness or receipt by the foreign institution. You understand international wire transfers may agree that all wires you initiate or receive will not be completed for up to four weeks or longerviolate the laws of the United States. Wire transfers are governed by Federal Reserve Regulation J if the transfer is cleared through the Federal Reserve. For a wires to be processed the same business day, it must be received by 11am PST for International wires and 1pm PST for Domestic wires. ACH transactions are governed by the rules of the National Automated Clearing House Association. You acknowledge that processing of international transactions may be delayed if necessary to complete OFAC screening. You must ensure that all international entries you initiate are designated with the appropriate code as required by the ACH Rules. All entries will be credited to or debited from your Account in U.S. Dollars. Currency conversion will be at rates determined by, or available to, us or the ACH. You will bear all currency conversion risk associated with international entries; you will bear all gains or losses associated with currency conversion for international entries.

ACH & Wire Transfers. If offeredprovided by the Credit Union, you may initiate or receive credits or debits to your account via wire transfer or ACH (“Automated Clearing House”) transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer Credit Union will be shown notify you of the credit or debit to your account by indicating the amount on your periodic statement. The Credit Union may provisionally credit your account for a wire or an ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a an ACH transfer, or receives an authorized reversal transaction, it we may reverse the provisional credit to your account or you will refund the amount to the Credit Union. If the payment instruction does not specify an account. In such cases, the originator of Credit Union may deposit the ACH payment into any share account which you maintain with us. No dividends will be paid on wire transfer will not be considered to have paid you payments deposited into your account unless the amount of the transferaccount otherwise pays dividends. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number you give as the proper identification numberidentification, even if it identifies a different party or institution. The Credit Union reserves You may initiate a wire transfer any time during a Funds Transfer Business Day. A Funds Transfer Business Day is considered to be Monday-Friday (except legal holidays) from 9:00 a.m. to 3:30 p.m. Any amendment or cancellation of the right to confirm or verify information on all wire requests prior to sending the wire. Once transfer must be in writing and received by the Credit Union has sent an outgoing wire, prior to the transfer is final and cannot be stopped. If you provide incomplete or inaccurate transfer instructions, written or oral, transmittal of the Credit Union will not be responsible for any resulting wire transfer losses, delays, or failed transactions. You understand international wire transfers may not be completed for up to four weeks or longertransfer. Wire transfers are governed by Federal Reserve Regulation J if the transfer is cleared through the Federal Reserve. For a wires to be processed the same business day, it must be received by 11am PST for International wires and 1pm PST for Domestic wires. ACH transactions are governed by the rules of the National Automated Clearing House Association. You acknowledge that processing of international transactions may be delayed if necessary to complete OFAC screening. You must ensure that all international entries you initiate are designated with the appropriate code as required by the ACH Rules. All entries will be credited to or debited from your Account in U.S. Dollars. Currency conversion will be at rates determined by, or available to, us or the ACH. You will bear all currency conversion risk associated with international entries; you will bear all gains or losses associated with currency conversion for international entries.