Common use of Electronic Funds Transfer Services Clause in Contracts

Electronic Funds Transfer Services. The following terms are used to describe Electronic Funds Transfer ("EFT") services. "Automated credits", or “ACH Credits”, which are deposits made into your Varo Products (as applicable) by electronic means. "Automated debits", "Automated payments" and “ACH Debits” indicate payments authorized by you to be made from your Varo Products (as applicable) by electronic means. By accepting ACH Credits or authorizing automatic payments/ACH Debits or transfers to or from any Varo Account, you agree to these terms and conditions. Your Varo Products (as applicable) that allow ACH transactions are subject to the National Automated Clearing House Association (NACHA) rules and the Federal Reserve Electronic Funds Transfer Act. This means credit given by Xxxx to you with respect to an ACH credit transaction received from your external bank is provisional until Varo receives final settlement for such entry through the Federal Reserve Bank. If Varo does not receive such final settlement, you are hereby notified and agree that Xxxx retains the right to revoke the credit, chargeback, or otherwise obtain refund for the credit and is entitled to a refund of the amount credited to you in connection with such entry, and the party making 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. Varo is not required to give next day notice to you of receipt of an ACH item and Varo may not do so. However, Xxxx will continue to notify you of the receipt of payments in the periodic statements we provide to you. Your statement will show the date, amount, and description of each electronic funds transfer received. Your rights and obligations with respect to such payments shall be construed in accordance with the terms of this Agreement including choice of law as provided by NACHA, which are applicable to ACH transactions involving your account.

Electronic Funds Transfer Services. The following terms are used to describe Electronic Funds Transfer ("EFT") services. "Automated credits", "direct deposits" or “ACH Credits”, which are deposits made into your the Varo Products (as applicable) Bank Account by electronic means. "Automated debits", "Automated payments" and “ACH Debits” indicate payments authorized by you to be made from your the Varo Products (as applicable) Bank Account by electronic means. By accepting ACH Credits "Online Transfers" are the movement of funds between the Varo Bank Account and optional Varo Savings Account by use of the Mobile App or authorizing Web App. Online Transfers are described in detail in the agreement governing the Varo Savings Account. When you accept direct deposits or authorize automatic payments/ACH Debits debits or transfers to or from any the Varo Bank Account, you agree to these terms and conditions. Your Varo Products (as applicable) that allow ACH transactions are account is subject to the National Automated Clearing House Association (NACHA) rules and the Federal Reserve Electronic Funds Transfer Act. This means credit given by Xxxx to you with respect to an ACH credit transaction received from your external bank is provisional until Varo receives final settlement for such entry through the Federal Reserve Bank. If Varo Xxxx does not receive such final settlement, you are hereby notified and agree that Xxxx retains the right to revoke the credit, chargeback, or otherwise obtain refund for the credit and is entitled to a refund of the amount credited to you in connection with such entry, and the party making 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. Varo is not required to give next day notice to you of receipt of an ACH item and Varo may will not do so. However, Xxxx will continue to notify you of the receipt of payments in the periodic statements we provide to you. Your statement will show the date, amount, and description of each electronic funds transfer received. Your rights and obligations with respect to such payments shall be construed in accordance with the terms of this Agreement including choice of law as provided by NACHA, which are applicable to ACH transactions involving your account. Other relevant terms and conditions described elsewhere in the Agreement also apply as long as they are consistent with Regulation E or Section II.

Electronic Funds Transfer Services. The following terms are used to describe Electronic Funds Transfer ("EFT") services. "Automated credits", or “ACH Credits”, which are deposits made into your Varo Products (as applicable) by electronic means. "Automated debits", "Automated payments" and “ACH Debits” indicate payments authorized by you to be made from your Varo Products (as applicable) by electronic means. By accepting When you accept ACH Credits or authorizing authorize automatic payments/ACH Debits or transfers to or from any Varo Account, you agree to these terms and conditions. Your Varo Products (as applicable) that allow ACH transactions are subject to the National Automated Clearing House Association (NACHA) rules and the Federal Reserve Electronic Funds Transfer Act. This means credit given by Xxxx to you with respect to an ACH credit transaction received from your external bank is provisional until Varo receives final settlement for such entry through the Federal Reserve Bank. If Varo Xxxx does not receive such final settlement, you are hereby notified and agree that Xxxx retains the right to revoke the credit, chargeback, or otherwise obtain refund for the credit and is entitled to a refund of the amount credited to you in connection with such entry, and the party making 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. Varo is not required to give next day notice to you of receipt of an ACH item and Varo may not do so. However, Xxxx will continue to notify you of the receipt of payments in the periodic statements we provide to you. Your statement will show the date, amount, and description of each electronic funds transfer received. Your rights and obligations with respect to such payments shall be construed in accordance with the terms of this Agreement including choice of law as provided by NACHA, which are applicable to ACH transactions involving your account.

Electronic Funds Transfer Services. The following terms are used to describe Electronic Funds Transfer ("EFT") services. "Automated credits", "direct deposits" or “ACH Credits”, which are deposits made into your Varo Products (as applicable) the Bank Account by electronic means. "Automated debits", "Automated payments" and “ACH Debits” indicate payments authorized by you to be made from your Varo Products (as applicable) the Bank Account by electronic means. By accepting ACH Credits "Online Transfers" are the movement of funds between the Bank Account and optional Varo Savings Account by use of the App. Online Transfers are described in detail in the agreement governing the Varo Savings Account. When you accept direct deposits or authorizing authorize automatic payments/ACH Debits debits or transfers to or from any Varo the Bank Account, you agree to these terms and conditions. Your Varo Products (as applicable) that allow ACH transactions are account is subject to the National Automated Clearing House Association (NACHA) rules and the Federal Reserve Electronic Funds Transfer Act. This means credit given by Xxxx to you with respect to an ACH credit transaction received from your external bank is provisional until Varo receives final settlement for such entry through the Federal Reserve Bank. If Varo Xxxx does not receive such final settlement, you are hereby notified and agree that Xxxx retains the right to revoke the credit, chargeback, or otherwise obtain refund for the credit and is entitled to a refund of the amount credited to you in connection with such entry, and the party making 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. Varo is not required to give next day notice to you of receipt of an ACH item and Varo may not do so. However, Xxxx will continue to notify you of the receipt of payments in the periodic statements we provide to you. Your statement will show the date, amount, and description of each electronic funds transfer received. Your rights and obligations with respect to such payments shall be construed in accordance with the terms of this Agreement including choice of law as provided by NACHA, which are applicable to ACH transactions involving your account.

Electronic Funds Transfer Services. The following terms are used to describe Electronic Funds Transfer ("EFT") services. "Automated credits", or “ACH Credits”, which are deposits made into your Varo Products (as applicable) by electronic means. "Automated debits", "Automated payments" and “ACH Debits” indicate payments authorized by you to be made from your Varo Products (as applicable) by electronic means. By accepting When you accept ACH Credits or authorizing authorize automatic payments/ACH Debits or transfers to or from any Varo Account, you agree to these terms and conditions. Your Varo Products (as applicable) that allow ACH transactions are subject to the National Automated Clearing House Association (NACHA) rules and the Federal Reserve Electronic Funds Transfer Act. This means credit given by Xxxx to you with respect to an ACH credit transaction received from your external bank is provisional until Varo receives final settlement for such entry through the Federal Reserve Bank. If Varo Xxxx does not receive such final settlement, you are hereby notified and agree that Xxxx retains the right to revoke the credit, chargebackcharge back, or otherwise obtain refund for the credit and is entitled to a refund of the amount credited to you in connection with such entry, and the party making 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. Varo is not required to give next day notice to you of receipt of an ACH item and Varo may not do so. However, Xxxx will continue to notify you of the receipt of payments in the periodic statements we provide to you. Your statement will show the date, amount, and description of each electronic funds transfer received. Your rights and obligations with respect to such payments shall be construed in accordance with the terms of this Agreement including choice of law as provided by NACHA, which are applicable to ACH transactions involving your account.