Common use of Account Names and Numbers Clause in Contracts

Account Names and Numbers. You acknowledge and agree that if your Payment Instructions identify an account by name and account number, the relevant financial institution may execute those Payment Instructions by reference to the account number only, even if such account number does not correspond to the account name. You further acknowledge and agree that financial institutions holding the account may choose not to investigate discrepancies between account names and account numbers. Subject to the requirements of applicable law, and except as otherwise expressly provided in this Agreement, we have no responsibility to investigate discrepancies between account names and account numbers.

Appears in 6 contracts

Samples: Agreement and Disclosure Statement for Electronic Banking Services, Agreement and Disclosure Statement for Electronic Banking Services, Agreement and Disclosure Statement for Electronic Banking Services

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