Express Transfers Clause Samples

Express Transfers. Transfers made using the Express Transfer option occur immediately and will affect your projected balance. You cannot cancel or amend an Express Transfer once it is submitted.

Express Transfers. The “Transfers” feature allows your Designated User to use Business Internet Banking to request transfers between those deposit Accounts to which the Designated User has access provided that the Designated User has access to both Accounts. The Accounts to or from which you wish for your Designated Users to conduct Internal Funds Transfers, as well as the types of Internal Funds Transfers that you wish for your Designated Users to have the ability to perform for each of those Accounts. Internal transfers will be transmitted until our end of day processing is run, approximately 8:00 p.m. Eastern Standard Time on business days. Rejected items may be processed the following business day. If you have a joint account which requires more than one signature to process transactions (i.e. an “And” account), please be advised that Online Banking will allow any account owner to access the account and complete electronic transactions without the other account owner’s approval.

Express Transfers. Express Transfers (one-time only) that transfer funds from a deposit Account to another deposit Account, line of credit or loan Account will generally be processed simultaneously if the transfer request is made before 5:00 p.m. Eastern Time (ET) on a Business Day (4:30 p.m. ET for Access CB customers). For example, if you transfer funds from Account 1 to Account 2, the funds will be debited from Account 1 and credited to the available balance in Account 2 simultaneously if the transfer request is made on a Business Day prior to 5:00 p.m. ET (4:30 p.m. ET for Access CB customers). The funds will be available immediately upon the transfer for withdrawal from Account 2 through an ATM or debit card transaction or at a teller window, and will also be available to honor checks or other items presented for payment against Account 2 in the nightly processing following the transfer. If we receive your transfer instructions after 5:00 p.m. ET (4:30 p.m. ET for Access CB customers), the transferred funds may be credited to your Account as of the next Business Day following the date you initiated the transfer.