Common use of Recurring Transfers Clause in Contracts

Recurring Transfers. The Funds Transfer service will check the available balance in the “transfer-from” account on the selected date of the recurring transfer or, if the selected date of transfer does not fall on a business day, on the preceding business day. If the transfer-from account does not have sufficient available funds to process the transfer, the service will attempt to process the transfer each subsequent business day (up to 60 days). If, due to insufficient available funds, the Funds Transfer service cannot process the transfer after 60 days, the transfer is cancelled. There is no limit on the number of transfers you can make from your checking account, or from any account, to make payments on your Credit Union credit accounts.