ACH Entries. Electronic transfers that are made through the Automated Clearing House Network (“ACH”) are subject to the rules of the ACH, and you agree to be bound by the Operating Rules of the ACH, including the rule making payment to the recipient provisional until receipt by the recipient’s bank of final settlement of the credit transaction. If final settlement is not received, you will not be deemed to have paid the recipient the amount of the electronic transfer. Furthermore, you agree that any payment by us to you for any returned credit entry or credit reversal is provisional until receipt by us of final settlement for such entry. If final settlement is not received, we are entitled to a refund from you of the amount credited, and we may charge your account for the amount credited. We may refuse to permit the use of any amount credited for a credit reversal if we believe that there may not be sufficient funds in your account to cover charge back or return of such reversal.
ACH Entries. Positive Pay will not stop the payment of checks that have been converted to ACH entries. ACH Rules prohibit the conversion of business checks as long as they meet the standards published in the ACH Rules. You are responsible for assuring that your checks meet these standards to utilize the Positive Pay service. Tell us at once if you believe a check has been improperly converted to an ACH entry.
ACH Entries. Subject to application and approval by the Bank, you can use this Service to authorize us to process, transmit, receive and settle Entries through ACH networks we use from time to time and to credit or debit Entries to an eligible Online Account. Prior to using this Service, you must enter into a separate Payment Order Agreement with us. You acknowledge and agree that this Service is also governed by our Payment Order Agreement and that if any provision of the Payment Order Agreement is inconsistent with or otherwise conflicts with this Agreement, the provisions of the Payment Order Agreement will control with respect to this Service. If your Payment Order Agreement is terminated for any reason, we may, in our sole discretion and without notice to you, terminate your use of this Service.
ACH Entries. Bill Payments may be processed through as ACH entries. There are special rules that govern ACH transactions, and they apply to Bill Payments processed through the ACH network. You acknowledge that the ACH network may not be used in violation of, and that Bill Payments (both electronic and paper) originated by you must comply with, the laws of the United States, including sanctioned laws administered by the Office of Foreign Asset Controls. When you send an electronic Bill Payment, it is sent to and received by another financial institution (or, possibly, the Bank). The RDFI receives the ACH transaction and credits it to the account of the Payee. You agree to be bound by the provisions of the National Automated Clearing House Association Rules making payment by the RDFI to the Payee provisional until receipt by the RDFI of final settlement for the transaction. You understand that if final settlement is not received, the RDFI will be entitled to a refund from the Payee of the amount credited and you will not be deemed to have paid the Payee the amount provided in the electronic Bill Payment order. You also agree that any Bill Payment by the Bank to you for any returned electronic Bill Payment is provisional until Bank receives final payment. Bank may delay your ability to use this provisional credit for some time.
ACH Entries. Check Positive Pay will not stop the payment of checks that have been converted to ACH Entries. Th e Rules prohibit the conversion of business checks greater than $25,000 as long as they meet the standards published in the Rules. You are responsible for ensuring that your checks meet those standards. Notify us immediately if you believe a check has been improperly converted to an ACH Entry.
ACH Entries. You may receive electronic transactions via the ACH. Credit to your account is provisional until we have received settlement through the Federal Reserve Bank or otherwise received payment. If we do not receive payment, we are entitled to a refund from your account, and the originator will not be considered to have paid the amount of the credit entry to you.
ACH Entries. ACH entries may only be originated in U.S. Dollars to or from accounts located in the United States. International ACH Transactions (“IATs”) are not supported through the Services unless Bank agrees otherwise in writing.
