Common use of Confirmation of Outgoing Wire Transfers Clause in Contracts

Confirmation of Outgoing Wire Transfers. Confirmation of Wire Transfers Initiated through Business Online Banking by Customer shall be verified and approved by Customer prior to their transmission to Bank. Bank recommends a minimum of two Users to confirm Payment Orders and that Users serve as an initiator or a confirmer, but not both. Notwithstanding Bank's recommendation, if Customer permits a User to act as both initiator and confirmer, Customer hereby authorizes Bank to process a wire initiated and confirmed by such User and accepts the risk of an unauthorized Payment Order.

Confirmation of Outgoing Wire Transfers. Confirmation of Wire Transfers Initiated through Business Online Digital Banking by Customer shall be verified and approved by Customer prior to their transmission to Bank. Bank recommends a minimum of two Users to confirm Payment Orders and that Users serve as an initiator or a confirmer, but not both. Notwithstanding Bank's recommendation, if Customer permits a User to act as both initiator and confirmer, Customer hereby authorizes Bank to process a wire initiated and confirmed by such User and accepts the risk of an unauthorized Payment Order.