ACH Funds Transfers. This Section Addresses Non-Consumer Accounts Only. You may desire to receive an electronic transfer of funds into your account. Such transfers may be transmitted through the Automated Clearing House (“ACH”) System. Your rights and responsibilities will be governed by Maine law, including Article 4A of the Uniform Commercial Code. Credit given by your credit union with respect to these transfers is provisional until the credit union receives final settlement through a Federal Reserve Bank or otherwise has received payment. If your credit union does not receive payment for a transfer, then the credit union is entitled to a refund from you in the amount credited to you on a provisional basis, and the originator of the transfer will not be considered to have paid the amount of the entry to your account. Your credit union is not obligated by the ACH rules to provide you with notice any time that it has received a transfer and made an entry to your account unless the credit union has otherwise agreed to do so.
Appears in 5 contracts
Samples: Visa Check Card Application and Agreement, Visa Check Card Application and Agreement, Account Agreement
ACH Funds Transfers. This Section Addresses Non-Consumer Accounts Only. : You may desire to receive an electronic transfer of funds into your account. Such transfers may be transmitted through the Automated Clearing House (“ACH”) System. Your rights and responsibilities will be governed by Maine law, including Article 4A of the Uniform Commercial Code. Credit given by your credit union us with respect to these transfers is provisional until the credit union receives we receive final settlement through a Federal Reserve Bank or otherwise has received receive payment. If your credit union does we do not receive payment for a transfer, then the credit union is we are entitled to a refund from you in the amount credited to you on a provisional basis, and the originator of the transfer will not be considered to have paid the amount of the entry to your account. Your credit union is We are not obligated by the ACH rules to provide you with next day notice any time that it has received we receive a transfer and made make an entry to your account unless the credit union has otherwise agreed to and we will not do so.
Appears in 2 contracts
Samples: Membership Agreement, Membership Agreement
ACH Funds Transfers. This Section Addresses Non-Consumer Accounts Only. : You may desire to receive an electronic transfer of funds into your account. Such transfers may be transmitted through the Automated Clearing House (“ACH”) System. Your rights and responsibilities will be governed by Maine law, including Article 4A of the Uniform Commercial Code. Credit given by your credit union us with respect to these transfers is provisional until the credit union receives we receive final settlement through a Federal Reserve Bank or otherwise has received receive payment. If your credit union does we do not receive payment for a transfer, then the credit union is we are entitled to a refund from you in the amount credited to you on a provisional basis, and the originator of the transfer will not be considered to have paid the amount of the entry to your account. Your credit union is We are not obligated by the ACH rules to provide you with notice any time that it has received we receive a transfer and made make an entry to your account unless the credit union has otherwise we have agreed to do so.
Appears in 1 contract
Samples: Membership Agreement