OOB Clause Samples
The "OOB" (Out of Band) clause defines the handling of communications, data, or transactions that occur outside the primary or standard channel specified in an agreement. In practice, this clause may specify how parties should treat instructions, notifications, or payments made through alternative means, such as phone calls or emails, rather than the official system or platform. Its core function is to clarify the validity and treatment of such out-of-band actions, reducing ambiguity and potential disputes over whether these actions are recognized under the contract.
OOB. The Security Procedure utilizes two factor authentication OOB technology. To initiate Wire Transfers via Internet Banking, OOB may be required over a certain dollar limit, as agreed upon between you and the Credit Union. An Authorized User must be in physical possession of the registered phone for OOB to Initiate a Wire Transfer. You agree that it is your sole and absolute responsibility to secure and protect access to all phones used for two factor authentication.
OOB. Where available, OOB Access is an RRO service option available that may be selected by Customer. The “Managed Device Customer Responsibilities Section in the Service Attachment applies to the OOB Access and the No OOB option for RRO.