Authorization to Initiate Funds Transfers Sample Clauses

Authorization to Initiate Funds Transfers. The Credit Union may charge your account for the amount of any funds transfer initiated by you or by any joint account owner or other authorized party with the right of access to the account from which the funds transfer is to be made (collectively, your “Authorized Agents”). Only you and your Authorized Agents will be permitted to initiate funds transfers from your accounts at the Credit Union. You understand and agree that you are fully responsible for all transactions conducted by your Authorized Agents, regardless of whether such transactions are authorized by you or exceed the amounts of any transaction authorized by you. The Credit Union shall have no liability for losses caused by your failure to notify the Credit Union of changes to your Authorized Agents.
Sample 1
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Authorization to Initiate Funds Transfers. The Credit Union may charge your account for the amount of any funds transfer initiated by you or by any person authorized by you as a joint account holder. Any changes to information provided by you shall be effective only at such time as the Credit Union has had a reasonable opportunity to act after receipt of written notice from you. The Credit Union shall have no liability for losses caused by your failure to notify the Credit Union of changes to authorized individuals. AUTHORIZATION TO CHARGE ACCOUNT The Credit Union shall have the right to charge the amount of any funds transfer requests to any of your accounts at the Credit Union in the event that no account is designated, or in the event that a designated account has insufficient collected funds to cover the amount of a funds transfer request. FEES The Credit Union may charge a service charge for services relating to the sending or receiving of the funds transfer request. Such charge(s) are set forth in the Credit Union’s Fee Schedule, which was previously provided to you and which is incorporated by this reference. Xxxxxx River Community Credit Union makes no warranties with respect to fees charged by other financial institutions with respect to your payment orders. SECURITY PROCEDURES Once you have signed a Wire Transfer Agreement and provided us with a member-created PIN, we will review the wire request and perform a call back, via an established phone number, to the member for verification on wires of $5,000 or more. Once a member created PIN is established we will accept payment orders from you via telephone or fax, provided you supply us with the above information when you call to make your payment order. You acknowledge that the security procedures described to you are commercially reasonable. You agree that the authenticity of payment orders may be verified using the described security procedure unless you notify the Credit Union in writing that you do not agree to that security procedure. In that event the Credit Union shall have no obligation to accept any payment order from you or other authorized parties on the account until you and the Credit Union agree, in writing, on an alternate security procedure. OUTGOING DOMESTIC OR INTERNATIONAL WIRE REQUESTS BUSINESS DAY AND CUT-OFF TIMES The Credit Union may establish or change cut-off times for the receipt and processing of funds transfer requests, amendments, or cancellations. The cut-off time for wire transfers is 2:30 p.m. Eastern Time on...
Sample 1

Related to Authorization to Initiate Funds Transfers

  • Authorization to Transfer Funds Customer hereby agrees that XXXXX.xxx may at any time and from time to time, in the sole discretion of XXXXX.xxx, apply and transfer from any of Customer’s Accounts with XXXXX.xxx to any of Customer’s other accounts, whether held at XXXXX.xxx or other approved financial institutions, any of the Contracts, currencies, securities or other property of Customer held either individually or jointly with others to another account.

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  • ACH & Wire Transfers If we provide the service, you may initiate or receive credits or debits to your account through wire or ACH transfer. You agree that if you receive funds by a wire or ACH transfer, we are not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. We may provisionally credit your account for an ACH transfer before we receive final settlement. We may reverse the provisional credit or you will refund us the amount if we do not receive final settlement. 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 as the proper identification even if it identifies a different party or institution.

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