Common use of INFORMATION RELIED UPON BY THE BANK Clause in Contracts

INFORMATION RELIED UPON BY THE BANK. You understand and agree that the Bank is relying upon the information provided by you and you authorize us to act on any instruction sent by you and to submit funds transfer instructions on your behalf. You understand that financial institutions receiving the funds transfer instructions may rely on such information. The Bank is not obliged to take any further steps to confirm or authenticate such instructions and will act on them without getting further confirmation. You understand that if you provide us with incorrect information, such as incorrect account numbers or your financial institution’s ABA number, or if there is any error in your instruction you are responsible for such incorrect information. If you notify us of such incorrect information or instruction will make reasonable efforts to reverse or delete such information after you make us aware of your error, BUT you accept full responsibility for losses resulting from any of your errors, duplication, ambiguities or fraud in the information that you provide. You agree not to impersonate any person or use a name or account number that you are not authorized to use. If any information you provide is untrue, inaccurate, not current or incomplete, without limiting other remedies, the Bank reserves the right to recover from you any costs or losses incurred as a direct or indirect result of the inaccurate or incomplete information. You also understand and agree that if funds transfer instructions identify a bank or beneficiary by name and account number, the relevant financial institution may execute those instructions by reference to the number only, even if the number does not correspond to the name provided. You understand that such financial institution may not investigate discrepancies between names and numbers. In addition, you agree that the Bank will have no responsibility to investigate discrepancies between names and numbers.

INFORMATION RELIED UPON BY THE BANK. You understand and agree that the Bank is relying upon the information provided by you and you authorize us to act on any instruction sent by you and to submit funds transfer instructions on your behalfand/or the Recipient. You understand that the Recipient’s financial institutions institution that is receiving the funds People Pay transfer instructions may also rely on such information. The Bank is not obliged to take any further steps to confirm or authenticate such instructions and will act on them without getting further confirmation. You understand that if you provide us with incorrect information, such as incorrect account numbers or your financial institution’s ABA number, information or if there is any error errors in your instruction the instructions you provide to us, such as incorrect or inconsistent recipient names, email addresses, mobile phone numbers or account numbers or the recipient’s financial institution’s ABA number or name or PayPal information, you are responsible for such incorrect information. If you notify us of such incorrect information or instruction instructions we will make reasonable efforts to reverse or delete such information after you make us aware of your error, BUT you accept full responsibility for losses resulting from any of your errors, duplication, ambiguities or fraud in the information that you provide. You agree not to impersonate any person or use a name or account number information that you are not authorized to use. If any information you provide is untrue, inaccurate, not current or incomplete, without limiting other remedies, the Bank reserves we reserve the right to recover from you any costs or losses incurred as a direct or indirect result of the inaccurate or incomplete information. You also further understand and agree that if funds your People Pay transfer instructions identify a bank or beneficiary by name and routing number, and the Recipient’s name and account number, the relevant financial institution Recipient’s Financial Institution may execute those instructions by reference to the number numbers provided only, even if the number does not correspond to the name provided. You understand that such financial institution may not investigate discrepancies between names and numbers. In addition, you agree that the Bank will have no responsibility to investigate discrepancies between names and numbers.