Common use of External Transfers Clause in Contracts

External Transfers. You may use Online Banking and Mobile Banking to set up External Transfers, which are transfers between us and another domestic financial institution. Be sure to provide the correct routing and account information; otherwise, we will be unable to complete your transfer, or we will reverse the transaction. For outgoing transfers, if your available balance is not sufficient to cover the transaction, then, we may at our option cancel not only that transfer, but all scheduled transfers occurring in the future. Depending on the type of transfer, we may withdraw the transfer amount from your account immediately, place a hold on amount, and then remit them to the recipient at a later date. If you transfer money from another financial institution and apply it to an open-end line of credit at Avadian, we will give you immediate credit upon receipt; however, we may not immediately replenish the line of credit available to you to borrow.