Common use of ACH Origination Clause in Contracts

ACH Origination. You may elect to use Security Tokens in lieu of a password to log in to Online Banking and gain access to Cash Management Services. You can make this election by notifying us at 000-000-0000. Bank may, in its sole discretion, use callbacks to verify instructions given to Bank. You agree that Bank’s use of callbacks is not required under this Agreement and the Bank’s failure to use callbacks to verify any request shall not be deemed to be a violation of the Security Procedures set forth in this Agreement. The Bank shall be entitled to rely on any written notice or other written communication believed by the Bank, in good faith to be genuine and to have been signed by the authorized user, and any such communication shall be deemed to have been signed by such person. Nothing contained in this Agreement shall obligate us to accept or execute your request(s), or an amendment or cancellation to the request, and we shall only be deemed to have accepted such request or its amendment or cancellation upon our execution thereof. Bank may, in its sole discretion, refuse to abide by any instructions from you in the event: (a) Bank has a good faith belief that the instructions are not authentic; (b) the instructions are incomplete; (c) the entry and/or identity of the authorized user cannot be verified in the sole and absolute discretion of Bank; (d) there are insufficient collected funds in the account to cover the instructions; or (e) any other condition or requirement for the processing of the instructions as set forth in this Agreement, any deposit agreement, or any funds transfer agreement between you and Bank, as amended, is unsatisfied. INTERNAL TRANSFERS