OLBB ACH Module Clause Samples
The OLBB ACH Module clause establishes the terms and conditions governing the use of Automated Clearing House (ACH) services within the OLBB platform. It typically outlines the procedures for initiating, processing, and settling electronic payments between parties, including any requirements for authorization, timing, and security measures. By clearly defining the operational framework for ACH transactions, this clause ensures efficient, secure, and predictable electronic fund transfers, reducing the risk of errors or disputes between users.
OLBB ACH Module. Bank’s standard Security Procedures for the transmission or delivery of Entry Data via the OLBB ACH Module are to require that each batch of ACH Entries created via the OLBB ACH Module be confirmed using a different User ID and User Password than the User ID and User Password used to create the batch of ACH Entries. Confirmation must be provided by an OLBB Authorized Representative employing a Security Device furnished by Bank. Bank’s standard Security Procedures for the transmission or delivery of Entry Data via the OLBB ACH Module also include those security measures that Bank may offer and you may accept from time to time, such as device authentication, daily dollar limits, and international entitlements.
OLBB ACH Module. Bank’s standard Security Procedures for the transmission or delivery of Entry Data via the OLBB ACH Module are as follows: