Common use of Authorized Transfers Clause in Contracts

Authorized Transfers. Upon instruction of (a) your employer or (b) the Treasury Department or (c) other financial institutions, the Credit Union will accept pre-authorized transfers to your account in the form of direct deposits of your paycheck or of federal recurring payments, such as Social Security. In addition, you may contract for pre-authorized transfers from your accounts in the form of direct withdrawals from your account to a particular person or company at least periodically.

Appears in 2 contracts

Sources: Electronic Funds Transfer Agreement, Electronic Funds Transfer Disclosure