Common use of Your access to the Transfer Clause in Contracts

Your access to the Transfer. Money Services is subject to review and approval by Folio and your access can be withdrawn or limited at any time in Folio’s sole discretion. You authorize Folio and any of its agents to process your application for the Transfer Money Services and you consent to Folio and any of its agents reviewing personally identifiable and financial information regarding your Folio Account in connection with its review. Further, you authorize Folio to make the credit inquiries Folio considers necessary to process your application and to conduct any review of your Folio Account including, but not limited to, a review of your name, address, phone number, social security number, and date of birth. You also authorize disclosure by Folio of the results of such inquiries, as Folio deems appropriate in its sole discretion, to any agent, vendor or other third party necessary to make the Transfer Money Services available to you. You acknowledge and agree that Folio will provide the Transfer Money Services using a reasonableness standard of care and that standard will be satisfied if reasonable banking procedures are followed. For example, we expect to process your Checks and EFTs within one (1) to two (2) business days of the processing time we disclose to you, but we may not be able to do so from time to time. You agree that such a delay will not be a breach of our agreement with you to act reasonably in providing the Transfer Money Services to you. Further, you agree that we shall be deemed to have exercised ordinary care as to your signature if we process your Check by automated means only (so as to clear the largest number of checks at the lowest cost to customers).