Rejection of Funds Transfer Request. The Credit Union has no responsibility to accept any incoming funds transfer for your benefit. The Credit Union may also reject any funds transfer request for an outgoing funds transfer for reasons including, but not limited to, which exceeds the collected and available funds on deposit in the Member’s designated account(s); is not authenticated to the Credit Union’s satisfaction or which the Credit Union believes may not be authorized by Member; contains incorrect, inconsistent, ambiguous, or missing information; involves funds which are subject to a lien, security interest, claim, hold, dispute, or legal process prohibiting withdrawal. The Credit Union shall incur no liability to Member for any loss occasioned by Credit Union’s refusal, with or without notice to Member, to honor any funds transfer instruction. Transfer Request in Excess of Account Balance. In the event that there are insufficient available funds in Member’s account(s) to cover Member’s obligations under this Agreement, the Credit Union may at its sole discretion choose to complete funds transfers initiated by Member, and Member agrees to immediately repay the Credit Union the amount of any overdraft created thereby plus any overdraft charges imposed in connection therewith, without notice or demand to Member. Amendment and Cancellation. Member shall have no right to cancel or amend a funds transfer instruction after its receipt by the Credit Union. However, Credit Union shall use reasonable efforts to act on a request by Member to cancel or amend an instruction prior to executing it, but shall have no liability if cancellation or amendment is not effected.
Appears in 5 contracts
Samples: Wire Transfer Agreement, Wire Transfer Agreement, Wire Transfer Agreement
