Common use of External Transfers Clause in Contracts

External Transfers. In addition to Online Banking services, you may elect to subscribe to the Bank’s External Account Transfer service which appears as “External Transfers” in the Personal Online Banking service. In doing so, you authorize the Bank to transfer funds bi-directionally between the accounts you hold here with the Bank and those that you own at different financial institutions. Should the funds not be available at the time of the deduction, the bank reserves the right to return the debit, which may cause your account to overdraft. In such circumstances, you agree to reimburse the Bank and pay any fees related to said overdraft in accordance with the terms found in the Terms and Conditions of Your Account, which governs your deposit account(s). Your subscription to the Account to Account service depends on you maintaining an active status with your Online Banking service. If any of your accounts are not in good standing, we have the right to reduce your limits, remove your ability for next day transfers or terminate your Solvay Bank External Account Transfer service in its entirety.