Wire Transfer Requests. If the requests are not completed by the required timeframe, the Bank cannot guarantee the transactions will be accepted by FedWire, or be received/posted on the “Effective Date.” The Bank may accept these items and they will be forwarded to the processor no later than the Bank’s next regularly scheduled delivery time. For Settlement/Delivery purposes, a business day is defined as legal banking days when both the Bank and the Federal Reserve are open for business. The end-of-day cutoff time is shown below:
Appears in 2 contracts
Sources: Business Online Banking With Payments Digital Banking Agreement, Business Online Banking With Payments Digital Banking Agreement