External Account Transfers Clause Samples

External Account Transfers. A Managing User may create a Role that includes permissions to create, view, and manage ACH transfers from your selected SELCO accounts to other SELCO accounts or to accounts held at other financial institutions and identified in advance by the member business.

External Account Transfers. Subject to the terms of this Agreement, external account to account transfer services can be used to transfer funds to and from your Account(s) at the Bank to designated external deposit accounts in which you have ownership as a sole or joint owner and are eligible transaction accounts. If you are not the sole or joint owner of the account(s), you acknowledge that you have all necessary legal right, power, and authority to transfer funds between your Account(s) and eligible external account(s). You may initiate a one-time transfer instruction for which processing shall be initiated immediately, a one-time transfer instruction for which processing shall be initiated at a later specified date up to one (1) year, and a recurring series of transfer instructions for which processing shall be initiated on the specified dates. When we receive a transfer instruction from you, you authorize us to debit your Account and credit funds on your behalf to the eligible external Account designated by you. Transfers may be delayed or blocked to prevent fraud or comply with regulatory requirements. If we delay or block an external transfer instruction that you have initiated, we will notify you in accordance with your user preferences (e.g., email, text). We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances: 1. If, through no fault of ours, your Account does not have sufficient funds to complete the transfer. 2. Online Banking and/or Mobile Banking is not working properly, and you know or have been advised by us before you execute the transaction. 3. The transfer is refused by us. We reserve the right to refuse any transfer. As required by applicable law, we will notify you promptly if we decide to refuse to transfer funds. 4. You have not provided us with the correct information, including but not limited to the correct eligible external account. 5. Circumstances beyond our control (such as, but not limited to, a natural disaster, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances. It is your responsibility to ensure the accuracy of any information that you enter in Online Banking and/or Mobile Banking, and...

External Account Transfers. You can use UMB online banking to make transfers (“External Account Transfers”) to or from your UMB Bank Accounts to up to ten (10) Accounts that you have with other (non-UMB) domestic U.S. financial institutions (“External Bank Accounts”). External Account Transfers can be set up either as one- time transfers or as recurring transfers, and may be same day or Future Transfers. To perform an External Account Transfer, you must set up each of the External Bank Account in the Service and verify your authority over that Account. Each External Bank Account must either be a checking or a savings account. After you have entered your External Bank Account number and the routing number of the other financial institution in our Online Banking Service, we will make two small deposits to the External Bank Account, with the words “OLB VTrans” as a transaction description. After those deposits appear in your External Bank Account, which may take up to three (3) business days, you must log back into UMB online banking, select the “Manage External Accounts” option on the “Transfer Money” page, select “Verify” and enter the amount of the deposits (in no particular order). We will remove the two deposited amounts from your External Bank Account on the same day they are deposited. If you do not correctly identify the two deposited amounts, you will not be able to use the External Account Transfer function to make transfers to or from that External Bank Account. You represent and warrant to us that you own each External Bank Account that you designate in the Service for making External Account Transfers, and that you have a right to debit and credit the External Bank Account set-up within the Service, and you agree to indemnify and hold us harmless for any claims, damages and expenses (including reasonable attorney’s fees) that we incur by following your instructions in making any External Account Transfer. To be processed on the same banking day, the External Account Transfer must be entered using the Service by 9 p.m. CT. The total dollar amount of all External Account Transfers made on a single business day through the Service may not exceed $10,000.00. We will immediately deduct the amount of a transfer you have requested from the Balance in the UMB Bank Account from which you made the transfer, if it is a transfer you have created for today, or on the calendar day of the transfer, for transfers you create as “Future Transfers.” Funds transferred into your UMB Deposit Acc...

External Account Transfers. The service allows Online and Mobile Banking customers to initiate an ACH transfer from your qualifying linked personal account to another account you have at any other Domestic Financial Institution. You may also transfer from your other Domestic Financial Institution to your qualified linked accounts at Bank of Hillsboro. This service also allows you to transfer money to any domestic customer who has given you their domestic bank information. This service can be accessed by clicking on Move/adding a New Payee/External Transfer. See our Online/Mobile Banking disclosure located on our website under Personal Banking or on the mobile app by clicking on the information icon and then the Terms and Condition link for complete disclosure.

External Account Transfers. Before you can link your first Account (or joint Account) with us you must provide us with an encoded, pre-printed deposit cheque from your External Account. The cheque can be drawn for a nominal amount. This cheque allows us to protect the security of your Account and to link your Account with your External Account. The cheque for your External Account must clear to establish this link. By providing us with the cheque from your External Account, you consent to our using that cheque to link your Account with your External Account. If you open an additional Account with us, you may be required to complete and sign an External Account Link Authorization form (or other form). You may be able to link more than one External Account to your Account(s), though we may limit the number of External Accounts that may be linked. Except as otherwise provided by us, you must keep at least one valid External Account in place at all times when dealing with us. If our account linking requirements are not met, your Account with us may be able to receive deposits, but will not have functionalities available when linked to an External Account. In order to comply with anti-money laundering laws and other legal requirements and for risk management purposes, you, and each Person authorized to operate the Account, consent to our verifying your (and their) identity as required or permitted by law, and agree to provide us with any documentation we request from you. You acknowledge that your Account cannot be opened until these requirements are met. You, and each Person authorized to operate the Account, agree and consent to our verifying information provided by you and on your behalf, through credit bureaus, credit reporting agencies, or third parties used for verifying such information. You and each Person authorized to operate the Account, agree to provide any records that we may require for the opening of your Account and its continued operation under any applicable law, including, but not limited to those necessary under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) (“PCMLTFA”).

External Account Transfers