Common use of ACH Transactions Clause in Contracts

ACH Transactions. We may accept payments on your behalf to your account or payments from your account which have been transmitted via an Automated Clearing House (“ACH”) transaction. These transfers will be subject to the rules of the National Automated Clearing House Association (“NACHA”). You may not originate ACH funds transfers through us unless you enter into a separate agreement with us for that service. Credit given to you with respect to an ACH credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making the payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry. NACHA rules require that all international payments made via the ACH network must be identified as an international ACH transaction (“IAT”). If an ACH transaction involving your account is an IAT transaction, deposits may be delayed due to required review processes for IAT transactions. This could result in funds not being available in your account as early as a domestic ACH transaction. Under the NACHA Rules, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.

ACH Transactions. We may accept payments on your behalf to your account or payments from your account which have been transmitted via an Automated Clearing House (“ACH”) transaction. These transfers will be subject to the rules of the National Automated Clearing House Association (“NACHA”). You may not originate ACH funds transfers through us unless you enter into a separate agreement with us for that serviceus. Credit given to you with respect to an ACH automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making the payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry. NACHA rules require that all international payments made via the ACH network must be identified as an international ACH transaction (“IAT”). If an ACH transaction involving your account is an IAT transaction, deposits may be delayed due to required review processes for IAT transactions. This could result in funds not being available in your account as early as a domestic ACH transaction. Under the NACHA Rules, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.

ACH Transactions. We may accept payments on your behalf to your account or payments from your account which have been transmitted via an Automated Clearing House (“ACH”) transaction. These transfers will be subject to the rules of the National Automated Clearing House Association (“NACHA”). You may not originate ACH funds transfers through us unless you enter into a separate agreement with us for that serviceus. Credit given to you with respect to an ACH automated clear- ing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making the payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry. NACHA rules require that all international payments made via the ACH network must be identified as an international inter- national ACH transaction (“IAT”). If an ACH transaction involving your account is an IAT transaction, deposits may be delayed due to required review processes for IAT transactions. This could result in funds not being available in your account as early as a domestic ACH transaction. Under the NACHA Rules, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.