Common use of Funds Transfer Service Clause in Contracts

Funds Transfer Service. 1. If you use our funds transfer service, you may, if ATB permits, make a funds transfer to another account at ATB or to another Canadian financial institution. Upon your verification of the details of the transfer, as required by ATB, ATB will immediately withdraw the funds from the Account you designate. We will send the funds for transfer by the end of that business day if the instructions are received by us during the business day, or by the end of the next business day if we receive the instructions outside of business hours. You agree that we are not responsible for any loss or costs you may suffer as a result of any errors in the account or other transfer details that you provide us. You also acknowledge that we cannot control when another financial institution will credit the account of the person to be receiving the funds. You also acknowledge that ATB cannot cancel any transfer of funds once the transfer has been sent. If the account details that you provide us are invalid, then the transfer amount will be returned and deposited into your Account or any other account you have with us.