Common use of External Funds Transfers Clause in Contracts

External Funds Transfers. Within the Online Banking service, you may separately enroll for the External Funds Transfer service for transferring funds between your linked personal deposit accounts at the Credit Union and certain deposit or card accounts at other financial institutions. The accounts at other financial institutions to or from which you request transfers are funds transfer accounts ("FT Accounts "). An "Inbound transfer" moves funds into your Credit Union account from an FT Account. An "Outbound transfer" moves funds from your Credit Union account to an FT Account. You will need to register each of your FT accounts that you wish to use for these transfers. You agree that you will only register accounts for which you have the authority to transfer funds.

Appears in 4 contracts

Samples: Membership and Account Agreement, Membership and Account Agreement, Membership and Account Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!