Common use of ACH Transfer Services Clause in Contracts

ACH Transfer Services. Your transfers and payments to external accounts outside the Bank may be completed by automated clearing house entries. You understand and agree that you are prohibited from using Online Banking Services to initiate a payment from an external account outside Bank to a Connected Account unless you own or have unlimited transfer and withdrawal authority with respect to such external account. You agree to be bound by the ACH Rules with respect to all such transfers and payments. You will be considered the originator of your automated clearing house entries under the ACH Rules. You agree not to initiate automated clearing house entries that violate Applicable Law, including but not limited to, sanctions enforced by the Office of Foreign Assets Control (OFAC). It is your responsibility to obtain information regarding OFAC enforced sanctions. You may obtain further information from the OFAC Compliance Hotline at (800)540-OFAC. Except for the entries we create to carry out your transfer and payment requests, this Agreement does not allow you originate any other types of automated clearing house entries. We may terminate or suspend this Agreement immediately if we believe you have breached the ACH Rules. You agree that we may audit your compliance with this Agreement, the ACH Rules, and any other as requested from time to time. By initiating a funds transfer through Online Banking Services, you certify that such transfer complies in all respects with Applicable Law and the ACH Rules. You shall, not later than the settlement time as established in the ACH Rules, cause immediately available collected funds to be deposited in the applicable Customer Account in satisfaction of credit entries initiated by you through us. You authorize us to debit the applicable Customer Account on the applicable settlement date in the amount of each entry initiated by you. With regard to credit entries subject to Article 4A of the UCC: (a) credit entries may be transmitted through the ACH system governed by the ACH Rules; (b) as between you and any Person other than us, your rights and obligations concerning credit entries shall be governed by and construed in accordance with the laws of the State of Texas; (c) credit given by a receiving depository financial institution to a receiver for credit entries shall be provisional until such receiving depository financial institution has received final settlement through a Federal Reserve Bank or otherwise has received payment as provided for in the ACH Rules, and (d) in the event any receiving depository financial institution does not receive such payment for credit entries, such receiving depository financial institution shall be entitled to a refund from the receiver in the amount of the credit to the receiver’s account, and the originator will not be considered to have paid the amount of the credit entry to the receiver. Additional ACH Agreement, Term and Condition apply. Contact the bank at the number listed in “Notice” for more details.

ACH Transfer Services. Your transfers and payments to external accounts outside the Bank credit union may be completed by automated clearing house entries. You understand and agree that you are prohibited from using Online Banking Services to initiate a payment from an external account outside Bank MFCU to a Connected Account unless you own or have unlimited transfer and withdrawal authority with respect to such external account. You agree to be bound by the ACH Rules with respect to all such transfers and payments. You will be considered the originator of your automated clearing house entries under the ACH Rules. You agree not to initiate automated clearing house entries that violate Applicable Law, including but not limited to, sanctions enforced by the Office of Foreign Assets Control (OFAC). It is your responsibility to obtain information regarding OFAC enforced sanctions. You may obtain further information from the OFAC Compliance Hotline at (800)540-OFAC. Except for the entries we create to carry out your transfer and payment requests, this Agreement does not allow you originate any other types of automated clearing house entries. We may terminate or suspend this Agreement immediately if we believe you have breached the ACH Rules. You agree that we may audit your compliance with this Agreement, the ACH Rules, and any other as requested from time to time. By initiating a funds transfer through Online Banking Services, you certify that such transfer complies in all respects with Applicable Law and the ACH Rules. You shall, not later than the settlement time as established in the ACH Rules, cause immediately available collected funds to be deposited in the applicable Customer Connected Member Account in satisfaction of credit entries initiated by you through us. You authorize us to debit the applicable Customer Connected Member Account on the applicable settlement date in the amount of each entry initiated by you. With regard to credit entries subject to Article 4A of the UCC: (a) credit entries may be transmitted through the ACH system governed by the ACH Rules; (b) as between you and any Person other than us, your rights and obligations concerning credit entries shall be governed by and construed in accordance with the laws of the State of TexasMichigan; (c) credit given by a receiving depository financial institution to a receiver for credit entries shall be provisional until such receiving depository financial institution has received final settlement through a Federal Reserve Bank Bank, or otherwise has received payment as provided for in the ACH Rules, and (d) in the event any receiving depository financial institution does not receive such payment for credit entries, such receiving depository financial institution shall be entitled to a refund from the receiver in the amount of the credit to the receiver’s account, and the originator will not be considered to have paid the amount of the credit entry to the receiver. Additional ACH Agreement, Term and Condition apply. Contact the bank at the number listed in “Notice” for more details.

ACH Transfer Services. Your transfers and payments to external accounts outside the Bank may be completed by automated clearing house entries. You understand and agree that you are prohibited from using Online Banking Services to initiate a payment from an external account outside Bank to a Connected Account unless you own or have unlimited transfer and withdrawal authority with respect to such external account. You agree to be bound by the ACH Rules with respect to all such transfers and payments. You will be considered the originator of your automated clearing house entries under the ACH Rules. You agree not to initiate automated clearing house entries that violate Applicable Law, including but not limited to, sanctions enforced by the Office of Foreign Assets Control (OFAC). It is your responsibility to obtain information regarding OFAC enforced sanctions. You may obtain further information from the OFAC Compliance Hotline at (800)540-OFAC. Except for the entries entries, we create to carry out your transfer and payment requests, this Agreement does not allow you originate any other types of automated clearing house entries. We may terminate or suspend this Agreement immediately if we believe you have breached the ACH Rules. You agree that we may audit your compliance with this Agreement, the ACH Rules, and any other as requested from time to time. By initiating a funds transfer through Online Banking Services, you certify that such transfer complies in all respects with Applicable Law and the ACH Rules. You shall, not later than the settlement time as established in the ACH Rules, cause immediately available collected funds to be deposited in the applicable Connected Customer Account in satisfaction of credit entries initiated by you through us. You authorize us to debit the applicable Connected Customer Account on the applicable settlement date in the amount of each entry initiated by you. With regard to credit entries subject to Article 4A of the UCC: (a) credit entries may be transmitted through the ACH system governed by the ACH Rules; (b) as between you and any Person other than us, your rights and obligations concerning credit entries shall be governed by and construed in accordance with the laws of the State of Texas; (c) credit given by a receiving depository financial institution to a receiver for credit entries shall be provisional until such receiving depository financial institution has received final settlement through a Federal Reserve Bank or otherwise has received payment as provided for in the ACH Rules, and (d) in the event any receiving depository financial institution does not receive such payment for credit entries, such receiving depository financial institution shall be entitled to a refund from the receiver in the amount of the credit to the receiver’s account, and the originator will not be considered to have paid the amount of the credit entry to the receiver. Additional ACH Agreement, Term and Condition apply. Contact the bank at the number listed in “Notice” for more details.and

ACH Transfer Services. Your transfers and payments to external accounts outside the Bank may be completed by automated clearing house entries. You understand and agree that you are prohibited from using Online Banking Services to initiate a payment from an external account outside Bank to a Connected Account linked account unless you own or have unlimited transfer and withdrawal authority with respect to such external account. You agree to be bound by the ACH Rules with respect to all such transfers and payments. You will be considered the originator of your automated clearing house entries under the ACH Rules. You agree not to initiate automated clearing house entries that violate Applicable Law, including but not limited to, sanctions enforced by the Office of Foreign Assets Control (OFAC). It is your responsibility to obtain information regarding OFAC enforced sanctions. You may obtain further information from the OFAC Compliance Hotline at (800)540-OFAC. Except for the entries we create to carry out your transfer and payment requests, this Agreement does not allow you originate any other types of automated clearing house entries. We may terminate or suspend this Agreement immediately if we believe you have breached the ACH Rules. You agree that we may audit your compliance with this Agreement, the ACH Rules, and any other as requested from time to time. By initiating a funds transfer through Online Banking Services, you certify that such transfer complies in all respects with Applicable Law and the ACH Rules. You shall, not later than the settlement time as established in the ACH Rules, cause immediately available collected funds to be deposited in the applicable Customer Account linked customer account in satisfaction of credit entries initiated by you through us. You authorize us to debit the applicable Customer Account linked account on the applicable settlement date in the amount of each entry initiated by you. With regard to credit entries subject to Article 4A of the UCC: (a) credit entries may be transmitted through the ACH system governed by the ACH Rules; (b) as between you and any Person other than us, your rights and obligations concerning credit entries shall be governed by and construed in accordance with the laws of the State of TexasMassachusetts; (c) credit given by a receiving depository financial institution to a receiver for credit entries shall be provisional until such receiving depository financial institution has received final settlement through a Federal Reserve Bank or otherwise has received payment as provided for in the ACH Rules, and (d) in the event any receiving depository financial institution does not receive such payment for credit entries, such receiving depository financial institution shall be entitled to a refund from the receiver in the amount of the credit to the receiver’s account, and the originator will not be considered to have paid the amount of the credit entry to the receiver. Additional ACH Agreement, Term and Condition apply. Contact the bank at the number listed in “Notice” for more details.

ACH Transfer Services. This section shall not apply to Consumer Accounts. Your transfers and payments to external accounts outside the Bank may be completed by automated clearing house entries. You understand and agree that you are prohibited from using Online Banking Services to initiate a payment from an external account outside Bank to a Connected Account unless you own or have unlimited transfer and withdrawal authority with respect to such external account. You agree to be bound by the ACH Rules with respect to all such transfers and payments. You will be considered the originator of your automated clearing house entries under the ACH Rules. You agree not to initiate automated clearing house entries that violate Applicable Law, including but not limited to, sanctions enforced by the Office of Foreign Assets Control (OFAC). It is your responsibility to obtain information regarding OFAC enforced sanctions. You may obtain further information from the OFAC Compliance Hotline at (800)540-800)540- OFAC. Except for the entries we create to carry out your transfer and payment requests, this Agreement does not allow you originate any other types of automated clearing house entries. We may terminate or suspend this Agreement immediately if we believe you have breached the ACH Rules. You agree that we may audit your compliance with this Agreement, the ACH Rules, and any other as requested from time to time. By initiating a funds transfer through Online Banking Services, you certify that such transfer complies in all respects with Applicable Law and the ACH Rules. You shall, not later than the settlement time as established in the ACH Rules, cause immediately available collected funds to be deposited in the applicable Connected Customer Account in satisfaction of credit entries initiated by you through us. You authorize us to debit the applicable Connected Customer Account on the applicable settlement date in the amount of each entry initiated by you. With regard to credit entries subject to Article 4A of the UCC: (a) credit entries may be transmitted through the ACH system governed by the ACH Rules; (b) as between you and any Person other than us, your rights and obligations concerning credit entries shall be governed by and construed in accordance with the laws of the State of TexasNebraska; (c) credit given by a receiving depository financial institution to a receiver for credit entries shall be provisional until such receiving depository financial institution has received final settlement through a Federal Reserve Bank or otherwise has received payment as provided for in the ACH Rules, and (d) in the event any receiving depository financial institution does not receive such payment for credit entries, such receiving depository financial institution shall be entitled to a refund from the receiver in the amount of the credit to the receiver’s account, and the originator will not be considered to have paid the amount of the credit entry to the receiver. Additional ACH Agreement, Term and Condition apply. Contact the bank at the number listed in “Notice” for more details.

ACH Transfer Services. Your transfers and payments to external accounts outside the Bank may be completed by automated clearing house entries. You understand and agree that you are prohibited from using Online Banking Services to initiate a payment from an external account outside Bank to a Connected Account unless you own or have unlimited transfer and withdrawal authority with respect to such external account. You agree to be bound by the ACH Rules with respect to all such transfers and payments. You will be considered the originator of your automated clearing house entries under the ACH Rules. You agree not to initiate automated clearing house entries that violate Applicable Law, including but not limited to, sanctions enforced by the Office of Foreign Assets Control (OFAC). It is your responsibility to obtain information regarding OFAC enforced sanctions. You may obtain further information from the OFAC Compliance Hotline at (800)540-OFAC. Except for the entries we create to carry out your transfer and payment requests, this Agreement does not allow you to originate any other types of automated clearing house entries. We may terminate or suspend this Agreement immediately if we believe you have breached the ACH Rules. You agree that we may audit your compliance with this Agreement, the ACH Rules, and any other as requested from time to time. By initiating a funds transfer through Online Banking Services, you certify that such transfer complies in all respects with Applicable Law and the ACH Rules. You shall, not later than the settlement time as established in the ACH Rules, cause immediately available collected funds to be deposited in the applicable Connected Customer Account in satisfaction of credit entries initiated by you through us. You authorize us to debit the applicable Connected Customer Account on the applicable settlement date in the amount of each entry initiated by you. With regard to credit entries subject to Article 4A of the UCC: (a) credit entries may be transmitted through the ACH system governed by the ACH Rules; (b) as between you and any Person other than us, your rights and obligations concerning credit entries shall be governed by and construed in accordance with the laws of the State of TexasArkansas; (c) credit given by a receiving depository financial institution to a receiver for credit entries shall be provisional until such receiving depository financial institution has received final settlement through a Federal Reserve Bank or otherwise has received payment as provided for in the ACH Rules, and (d) in the event any receiving depository financial institution does not receive such payment for credit entries, such receiving depository financial institution shall be entitled to a refund from the receiver in the amount of the credit to the receiver’s account, and the originator will not be considered to have paid the amount of the credit entry to the receiver. Additional ACH Agreement, Term and Condition apply. Contact the bank at the number listed in “Notice” for more details.