Errors and Rejections by Bank. If a transfer request identifies an intermediary bank or a beneficiary’s bank inconsistently by name and identifying number, execution of the request might be based solely upon the number, even if the number identifies a bank different from the named bank or a person who is not a bank. If a transfer request identifies a beneficiary inconsistently by name and account number, payment might be made by the beneficiary’s bank based solely upon the account number, even if the account number identifies a person different from the named beneficiary. Customer’s obligations shall not be excused in these circumstances. The Bank may in its sole discretion reject any transfer request or incoming transfer which does not conform to the limitations, procedures, and/or other requirements set forth in this Agreement, such as availability of funds on deposit. Unless prohibited by law, Bank may at its sole discretion reject any transfer request it receives from the Customer for any or no reason (including but not limited to suspicion that the request might be unauthorized or in violation of law or the rights of others). The Bank shall endeavor to notify the Customer of the Bank’s rejection of the transfer request by telephone, electronic message, U.S. mail or other commercially reasonable means. The Bank will comply with regulations issued by the US Treasury’s Office of Foreign Assets Control (OFAC). If any transfer request is to an entity listed on OFAC’s list of Specially Designated Nationals and Blocked Persons, by law the Bank shall not complete the transfer and shall “block” the funds until such time OFAC issues a written release to the Bank. The Bank shall have no liability to the Customer as a result of the Bank’s rejection of any transfer request or internal transfer if it complies with the terms of this Agreement.
Errors and Rejections by Bank. Business Entity understands that Bank and any intermediary banks may execute wire transfer requests according to the identifying account and bank routing numbers provided by Business Entity. Business Entity understands that Bank may complete wire transfers by relying on account and routing numbers, even if the account or routing numbers conflict with the bank or beneficiary named by Business Entity. Bank may, but is not obligated to, reject wire transfers where the Business Entity provides incorrect or conflicting information. Business Entity understands that the beneficiary bank may also pay funds by relying upon the account number provided by Business Entity, even if the account number identifies a person different from the beneficiary named by Business Entity. Bank may refuse to execute any wire transfer request at any time for any reason. Bank may refuse to execute any wire transfer if Business Entity does not have adequate available funds on deposit with Bank. Bank may refuse to execute any wire transfer request that, in its sole discretion, Bank believes to be illegal, suspicious, or fraudulent by / purchased from, that does not conform to Business Entity’s agreements with Bank, or that does not conform to Bank policy or procedures. Bank will comply with regulations issued by the US Treasury’s Office of Foreign Assets Control (OFAC). By law, Bank will block wire transfers sent to persons on OFAC’s list of Specially Designated Nationals and Blocked Person. Bank will block such funds until OFAC issues a written release to the bank. Bank will have no liability to Business Entity as a result of Banks rejection of such wire transfers or as a result of blocking or refusing to transfer such funds. Bank will notify Business Entity of such rejection by any commercially reasonable means, including, but not limited to, by email, phone, or U.S. Mail. Business Entity understands and agrees that, in Bank’s sole discretion, Bank may share any and all information related to Business Entity’s wire transfers and wire transfer requests with receiving banks, with state and federal law enforcement, and with the Bank’s regulators. Bank will not share Business Entity’s authenticating credentials, including PINs belonging to Authorized Representatives or Authorized Representative’s usernames, logins, or tokens.
