Common use of Authorization to Transfer Funds Clause in Contracts

Authorization to Transfer Funds. By using the Open Transfer Service, you hereby represent and warrant to the credit union that you own each eligible the credit union account and verified account, and have full right and authority to all the funds on deposit therein. In addition, you authorize the credit union to execute and charge your eligible credit union account(s) for any open transfer request to a verified account and from a verified account to my eligible credit union account, including any related fee, subject to any applicable limit as to dollar amount or time delays to complete transfers when your Open Transfer requests are made in accordance with the procedures established by the credit union. You understand and acknowledge that the credit union has no obligation to execute any request for a transfer using the Open Transfer Service that is not initiated in accordance with such procedures. You further acknowledge that the acceptance and processing of an Open Transfer request is subject to the terms and conditions stated in this Agreement, as amended from time to time. This authorization shall remain in full force and effect until you have informed the credit union in writing that you have revoked your authorization and the credit union has had a reasonable opportunity to act on it.

Authorization to Transfer Funds. By using the Open Transfer Service, you hereby represent and warrant to the credit union that you own each eligible the credit union account and verified account, and have full right and authority to all the funds on deposit therein. In addition, you authorize the credit union to execute and charge your eligible credit union account(s) for any open transfer request to a verified account and from a verified account to my eligible credit union account, including any related fee, subject to any applicable limit as to dollar amount or time delays to complete transfers when your Open Transfer requests are made in accordance with the procedures established by the credit union. You understand and acknowledge that the credit union has no obligation to execute any request for a transfer using the Open Transfer Service that is not initiated in accordance with such procedures. You further acknowledge that the acceptance and processing of an Open Transfer request is subject to the terms and conditions stated in this Agreement, as amended from time to time. This authorization shall remain in full force and effect until you have informed the credit union in writing that you have revoked your authorization and the credit union has had a reasonable opportunity to act on it.