Common use of Frequency of Transfers Clause in Contracts

Frequency of Transfers. The Bank does not limit the number of external funds transfers you may make; however, you we may from time to time for security and risk management reasons modify the limit on the number of transfers you can make using our the external funds transfer feature. DOLLAR AMOUNT OF TRANSFERS When you initiate an External Transfer from your account at another Financial Institution (FI) to your Avidia Bank account, you are initiating an ACH debit transfer to your external account and a corresponding credit to your Avidia Bank account. These credits will be available for withdrawal no later than five business days after you initiate the External Transfer. TRANSFERS SUBJECT TO THE RULES OF THE ACCOUNTS External funds transfers are also subject to the rules and regulations governing the related accounts. You agree not to effect any external funds transfers from or to accounts that are not allowed under the rules or regulations applicable to such accounts including, without limitation, rules or regulations designed to prevent the transfer of funds in violation of OFAC regulations.