ACH & Wire Transfers. You may receive credits or debits to your account via ACH (“Automated Clearing House”) transfer. ACH transactions are governed by the rules of the National Automated Clearing House Association. When you initiate an ACH or wire, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number you give, even if it does not match the party named in your instructions. Wire transfers are governed by Federal Reserve Subpart B of Regulation J if the transfer is cleared through the Federal Reserve. Wire Transfers and ACH transactions may be subject to fees as disclosed on the Business Rate and Fee schedule.
Appears in 4 contracts
Samples: Membership and Accounts Agreement, Membership and Accounts Agreement, Membership and Accounts Agreement
