Common use of ACH and Wire Transfers Clause in Contracts

ACH and Wire Transfers. If we provide the service, you may initiate or receive credits or debits to your account through wire or Automated Clearing House (ACH) transfer. You agree that if you receive funds by a wire or ACH transfer, we are not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. We may provisionally credit your account for an ACH transfer before we receive final settlement. We may reverse the provisional credit or you will refund us the amount if we do not receive final settlement. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number as the proper identification even if it identifies a different party or institution.

ACH and Wire Transfers. If we provide the service, you may initiate or receive credits or debits to your account through wire or Automated Clearing House (ACH) ACH transfer. You agree that if you receive funds by a wire or ACH transfer, we are not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. We may provisionally credit your account for an ACH transfer before we receive final final settlement. We may reverse the provisional credit or you will refund us the amount if we do not receive final final settlement. When you initiate a wire transfer, you may identify either the recipient or any financial financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number as the proper identification identification even if it identifies identifies a different party or institution.