Common use of Transfer Authorization and Processing Clause in Contracts

Transfer Authorization and Processing. As a user of External Transfer Services, you represent and warrant that you are a named User of each External Account, you have all necessary legal right, power, and authority to transfer funds from each External Account, and that each External Account is located in the United States. - You will use External Transfer Services in accordance with the process set forth in Digital Banking. When you request an outbound External Transfer from your Eligible Account, you authorize us to debit your Eligible Account and remit funds on your behalf to the External Account designated by you. You also authorize us to reverse a credit to your External Account if the transaction is returned for any reason, including but not limited to insufficient funds, errors or for security reasons. - It is your responsibility to ensure the accuracy of all information that you provide through Digital Banking when you request an External Transfer, and that you inform us as soon as possible if you become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a transfer made to the wrong account once we receive notice of the error and have a reasonable opportunity to act on it. However, we do not guarantee that we can stop or recover such a transfer, and we will have no responsibility or liability for any damages you may suffer as a result of incorrect information that you provided in connection with External Transfer Services.