Common use of Processing Transfers Clause in Contracts

Processing Transfers. A transfer remains In Process until fully processed and its status will appear as “Pending”. Transfers are listed as Pending based on the timing of the scheduling and the date the payment will process: • One-time immediate transfers process at the next half hour processing time. Once processed, the transfer is no longer considered pending and does not show on this screen. • One-time future-dated transfers are pending until the first processing time on the scheduled date. Once processed, the transfer is no longer considered pending and does not show on this screen. • Recurring transfers (displaying the next scheduled date) are pending until the transfer expires. You agree that we may cancel a transfer, without prior notice, in the event that: • Any of your accounts with the Credit Union are not in good standing. • You have had an overdraft, an over-limit item, or an item returned for insufficient available funds with respect to any Credit Union deposit account during the last three months. • You have had any prior transfer canceled, revoked, or uncompleted due to reasons such as insufficient funds, revoked authorization, stopped payments, or frozen account. The Credit Union will not be liable to you if we do not provide notice to you of rejection of a transfer.