Common use of Account Transfers by Wire or ACH Clause in Contracts

Account Transfers by Wire or ACH. We offer wire transfers or Automated Clearing House (ACH) transfers that allow you to send or receive debits or credits to your account. Should you utilize these services and receive funds by wire or ACH transfer you agree to verify the transfers by reviewing your periodic statement, and agree that we have no duty to notify you when the funds are received. While we may temporarily (provisionally) credit your account for an ACH transfer, if we are not finally and ultimately paid (do not receive final settlement) for the transfer we may reverse the credit to your account or alternatively you agree to reimburse us for the amount of the reversed transfer. Should you send a wire transfer you may identify the recipient or any financial institution by name and by account number or identifying number. We and other financial institutions may rely on the account number or other identifying number that you provide us as the correct identification number, even if the number you provide us identifies a different recipient or financial institution.