Common use of Wire Transfer Services Clause in Contracts

Wire Transfer Services. We offer certain services that allow you to request wire transfer of funds (each such transfer, a “Wire Transfer”) to a third party (each a “Beneficiary”). Wire Transfers are not Electronic Fund Transfers and are not governed by our Electronic Fund Transfer Agreement. They are subject to and governed by Article 4A of the Uniform Commercial Code and Subpart B of Federal Reserve Regulation J. You agree that your Wire Transfer requests must be executed in accordance with (a) Article 4A of the Uniform Commercial Code (“Article 4A”), (b) Subpart B of Regulation J of the Board of Governors of the Federal Reserve System, and (c) the terms and conditions of any Wire Transfer agreement (a “Wire Transfer Agreement”) that you may be required to execute at the time of the request. The terms and conditions contained in this section supplement the terms and conditions of our Wire Transfer Agreement to the extent the two are not inconsistent. You acknowledge that Article 4A authorizes us to rely upon the numbers supplied by you to identify banks, Beneficiaries and other parties to the Wire Transfer, even if those numbers disagree with the names of those parties. All Wire Transfers will be made according to our security procedure(s) as identified in our Wire Transfer Agreement. The security procedure(s) is/are intended to verify that an order is authorized. You understand that once your request for a Wire Transfer has been processed, the funds will have been permanently transferred to the named Beneficiary and that a stop payment order will be impossible. You understand that the Bank handles Wire Transfer requests expeditiously, but that there is no guarantee that a request will be completed in any specific time period.

Wire Transfer Services. We offer certain services that allow you to request wire transfer of funds (each such transfer, a “Wire Transfer”) to a third party (each a “Beneficiary”). Wire Transfers are not Electronic Fund Transfers and are not governed by our Electronic Fund Transfer Agreement. They are subject to and governed by Article 4A of the Uniform Commercial Code and Subpart B of Federal Reserve Regulation J. You agree that your Wire Transfer requests must be executed in accordance with (a) Article 4A of the Uniform Commercial Code (“Article 4A”), (b) Subpart B of Regulation J of the Board of Governors of the Federal Reserve System, and (c) the terms and conditions of any Wire Transfer agreement (a “Wire Transfer Agreement”) that you may be required to execute at the time of the request. The terms and conditions contained in this section supplement the terms and conditions of our Wire Transfer Agreement to the extent the two are not inconsistent. You acknowledge that Article 4A authorizes us to rely upon the numbers supplied by you to identify banks, Beneficiaries and other parties to the Wire Transfer, even if those numbers disagree with the names of those parties. All Wire Transfers will be made according to our security procedure(s) as identified in our Wire Transfer Agreement. The security procedure(s) is/are intended to verify that an order is authorized. You understand that once your request for a Wire Transfer has been processed, the funds will have been permanently transferred to the named Beneficiary and that a stop payment order will be impossible. You understand that the Bank handles Wire Transfer requests expeditiously, but that there is no guarantee that a request will be completed in any specific time period. You agree that upon authorization, a wire transfer is irrevocable and that the sole obligation of the Bank is to exercise ordinary care in the processing of wire transfers and that we are not responsible for any losses or delays which may occur as a result of any other party’s involvement in processing the wire transfer.