Amendments and Cancellations of Payment Orders. Any Authorized Person may amend or cancel a payment order regardless of whether that person initiated the order. We may refuse requests to amend or cancel a payment order that we believe will expose the Credit Union to liability or loss. Any request to amend or cancel a payment order that we accept will be processed within a reasonable time after it is received. You agree to hold us harmless from and indemnify us for all losses and expenses resulting from any actual or attempted amendment or cancellation of a payment order.
Amendments and Cancellations of Payment Orders. Any owner may amend or cancel a payment order regardless of whether that person initiated the order. We may refuse requests to amend or cancel a payment order that we believe will expose the Credit Union to liability or loss. Any request to amend or cancel a payment order that we accept will be processed within a reasonable time after it is received. You agree to hold us harmless from and indemnify us for all losses and expenses resulting from an actual or attempted amendment or cancellation of a payment order. Security Procedures. We may require you to follow a security procedure to execute, amend, or cancel a payment order or certain electronic funds transfer transactions so that we may verify the authenticity of the order, amendment, or cancellation. We will notify you of such security procedures. You agree that our security procedures are commercially reasonable verification of payment orders and other electronic funds transfers. If we permit you to establish a different security procedure, you agree that that procedure is also commercially reasonable method of verifying payment orders or electronic funds transfers. A call back may be performed on certain payment orders or electronic funds transfers. If you refuse to follow a commercially reasonable security procedure that we off, you agree to be bound by any payment order, whether authorized or not, that is issued in your name and accepted by us in good faith in accordance with the security procedure you choose Duty to Report Unauthorized or Erroneous Fund Transfers. You must exercise ordinary care to identify and report unauthorized or erroneous fund transfers on your account. You agree that you will review your account(s) and periodic statement(s). You further agree you will notify us of any unauthorized or erroneous transfers within the time frames described in the “Statements” Section of this agreement. You also agree not to hold the Credit Union liable for any unauthorized transfers on your account.
