External Transfers Terms and Conditions. In order to initiate transfers to/from your accounts at other U.S. financial institutions, you will be required to provide account information for your Third Party Accounts, including, but not limited to, the financial institution’s name, ABA/routing number, account type, and your account number(s). You acknowledge that if we are able to recognize that you provided us with incorrect or incomplete information, we may make reasonable efforts to contact you to remedy the situation. However, you agree to accept full responsibility for any losses resulting from any such errors. You may be required to provide proof of ownership of any Third Party Account to or from which you are requesting a transfer of money. We may require you to demonstrate your ownership of a Third Party Account by means of trial deposits. Trial deposits involve us making one or two low value payment(s) (usually less than $1.00) and one withdrawal of such funds. You are then required to report certain details of such transactions to confirm your account ownership. Your funds are not used for the trial deposits. You will be asked to confirm the amount of the trial deposits in order to verify proper account setup. No external transfer can occur without this verification. Each external transfer made with an eligible GE Credit Union savings account will, if applicable, count toward the monthly transaction limit for your account. GE Credit Union reserves the right to require you to use other methods to prove your ownership of a Third Party Account. You agree that we have the right to collect funds from any/all of your GE Credit Union accounts, including the available balance on your line-of-credit accounts or any of the overdraft services applicable to your accounts, to provide the funds for any transfers that have been requested by you. This includes accounts on which you are the primary owner, as well as accounts on which you are the joint owner. We are not responsible for any holds on funds placed by other financial institutions. We will not notify you in the event an external transfer fails due to insufficient funds. The terms and conditions for the account types offered by us are stated in the “Truth-In-Savings and Other Account disclosures” apply (e.g., number of monthly transactions allowed on a particular account) and you hereby acknowledge and agree that they are incorporated herein by reference.
External Transfers Terms and Conditions. This External Transfer Service section of this Agreement sets forth the terms and conditions under which you can transfer funds to an External Account that you own at another financial institution. This section affects your rights, and you should read it carefully. Any Account accessed through External Transfers is also subject to the Account Terms and Conditions. You should review the Account Terms and Conditions carefully, as they may include transaction limitations and fees that might apply to your use of External Transfers.
