Common use of Failed or Returned Transfers Clause in Contracts

Failed or Returned Transfers. In using the A to A Service, you are requesting that we attempt to make payments for you from your Eligible Account to a Recipient Account. If we are unable to complete the Transfer Instruction for any reason associated with your Eligible Account (for example, there are insufficient funds in your Eligible Account to cover the transfer, taking into consideration any available overdraft protection on your Eligible Account), or the Recipient Account (for example, the Recipient Account number is not valid), the Transfer Instruction may not be completed. We will use reasonable efforts to research and correct the transfer to the intended Account or void the transfer and credit your Account from which you attempted to transfer funds. You may receive notification from us. In each such case, you agree that: (1) You will reimburse us or our service provider immediately upon demand the amount of the Transfer Instruction if we have delivered the payment but there are insufficient funds in your Eligible Account (taking into consideration any available overdraft protection) to allow us to complete the debit processing; (2) For any amount not reimbursed to us within fifteen (15) days of the initial notification, a late charge equal to one and a half percent (1.5%) monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed by us or our service provider; (3) You may be assessed a fee by our service provider and by us if the Transfer Instruction cannot be debited because you have insufficient funds in your Eligible Account (taking into account any available overdraft protection), to cover the payment, or if we cannot otherwise collect the funds from you; the fee amount will be as set forth in our Schedule of Fees and Services or your account agreement with us. You hereby authorize us to deduct these amounts from your designated Eligible Account, including by ACH debit; (4) You will reimburse us and our service provider for any fees or costs we incur in attempting to collect any amounts from you; and (5) We and our service provider are authorized to report the facts concerning the return to any credit reporting agency.

Failed or Returned Transfers. In using the A to A Service, you are requesting that we attempt us to make payments transfers for you from your Eligible Account to a Recipient Transaction Account. If we are unable to complete the Transfer Instruction transfer for any reason associated with your Eligible Transaction Account (for example, there are insufficient funds in your Eligible Transaction Account to cover the transfer, taking into consideration any available overdraft protection on your Eligible Account), or the Recipient Account (for example, the Recipient Account number is not validtransaction), the Transfer Instruction transfer may not be completed. We In some instances, you will use reasonable efforts to research and correct the transfer to the intended Account or void the transfer and credit your Account from which you attempted to transfer funds. You may receive notification a return notice from us. In each such case, you agree that: : (1a) You will reimburse us or our service provider immediately upon demand the transfer amount of the Transfer Instruction if we have delivered the payment but there are insufficient funds in your Eligible Account that has been returned to us; (taking into consideration any available overdraft protection) to allow us to complete the debit processing; (2b) For any amount not reimbursed to us within fifteen (15) days of the initial notification, a late charge equal to one and a half percent (1.5%) monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed by us or our service provider; imposed; (3c) You may be assessed a fee by our service provider Service Provider and by us if the Transfer Instruction cannot be debited transfer is returned because you have insufficient funds in your Eligible Transaction Account (taking into account any available overdraft protection), to cover the payment, requested transfer or if we cannot otherwise collect the funds from you; the fee amount will be as set forth in our Schedule of Fees and Services your fee schedule from us or your account Account agreement with us. You hereby authorize us to deduct these amounts from your designated Eligible Account, including Transaction Account by ACH debit; ; (4d) You will reimburse us and our service provider Service Provider for any fees or costs we or they incur in attempting to collect any amounts the amount of the return from you; and , (5e) We and our service provider Service Provider are authorized to report the facts concerning the return to any credit reporting agency. Address or Banking Changes. It is your sole responsibility and you agree to ensure that the contact information in your user profile is current and accurate. This includes, but is not limited to, name, address, phone numbers and email addresses. Changes can be made either within the application or by contacting customer care for the Service. Any changes in your Transaction Account or Recipient Account should also be made in accordance with the procedures outlined within the Service's help files. All changes made are effective immediately. We are not responsible for any transfer processing errors or fees incurred if you do not provide accurate Transaction Account, Recipient Account, or contact information. Refused Transfers. We reserve the right to refuse any transfer to a Recipient Account. We will notify you promptly if we decide to refuse to transfer funds to a Recipient Account. This notification is not required if you attempt to make a prohibited transfer under this Agreement.

Failed or Returned Transfers. In using the A to A Service, you are requesting that we attempt to make payments for you from your Eligible Account to a Recipient Account. If we are unable to complete the Transfer Instruction for any reason associated with your Eligible Account (for example, there are insufficient funds in your Eligible Account to cover the transfer, taking into consideration any available overdraft protection on your Eligible Account), or the Recipient Account (for example, the Recipient Account number is not valid), the Transfer Instruction may not be completed. We will use reasonable efforts to research and correct the transfer to the intended Account or void the transfer and credit your Account from which you attempted to transfer funds. You may receive notification from us. In each such case, you agree that: (1) You will reimburse us or our service provider immediately upon demand the amount of the Transfer Instruction if we have delivered the payment but there are insufficient funds in your Eligible Account (taking into consideration any available overdraft protection) to allow us to complete the debit processing; (2) For any amount not reimbursed to us within fifteen (15) days of the initial notification, a late charge equal to one and a half percent (1.5%) monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed by us or our service provider; (3) You may be assessed a fee by our service provider and by us if the Transfer Instruction cannot be debited because you have insufficient funds in your Eligible Account (taking into account any available overdraft protection), to cover the payment, or if we cannot otherwise collect the funds from you; the fee amount will be as set forth in our Schedule of Fees and Services or your account agreement with us. You hereby authorize us to deduct these amounts from your designated Eligible Account, including by ACH debit; (4) You will reimburse us and our service provider for any fees or costs we incur in attempting to collect any amounts from you; and (5) We and our service provider are authorized to report the facts concerning the return to any credit reporting agency. SCHEDULE OF FEES AND SERVICES EFFECTIVE AUGUST 1, 2016 PERSONAL ACCOUNTS PERSONAL CHECKING ACCOUNTS PREMIER PLUS CHECKING WELLESLEY CHECKING WELLESLEY CHECKING1 (FOR STUDENTS) NOW CHECKING ACCOUNT PERFECT IF YOU ARE LOOKING FOR: Easy access to your money worldwide A straightforward account with no monthly fees A basic account for student ages 15-18 Easy access while earning interest EARNS INTEREST No No No Yes MONTHLY FEE $30.00 None None $5.00 MINIMUM OPENING DEPOSIT None None None None REQUIREMENT TO WAIVE MONTHLY FEE $25,000 combined daily balance, at least 2 online xxxx pay transactions, and direct deposits of at least $1,500.00 No Charge No Charge $500 minimum daily balance or direct deposit ONLINE BANKING AND ONLINE XXXX PAY No Charge No Charge No Charge2 No Charge ATM WITHDRAWALS AT SUM® NETWORKS No Charge No Charge No Charge3 No Charge UNLIMITED ATM USE WORLDWIDE4 Surcharge Reimbursement Surcharge Reimbursement Surcharge Reimbursement Surcharge Reimbursement CHECKS No Charge No Charge No Charge Varies FDIC/SIF INSURANCE All deposits insured above FDIC limits All deposits insured above FDIC limits All deposits insured above FDIC limits All deposits insured above FDIC limits PERSONAL SAVING AND MONEY MARKET ACCOUNTS PREMIER PLUS SAVINGS STATEMENT SAVINGS STATEMENT SAVINGS1 (FOR STUDENTS) MONEY MARKET PERFECT IF YOU ARE LOOKING FOR: Competitive interest rate for higher balances A straightforward account with no monthly fees A basic account for students ages 8-18 More access to your money with a competitive interest rate ACCOUNT REQUIREMENTS Must also have the Premier Plus Checking None Must be jointly held with a Wellesley Bank Client None MONTHLY FEE None None None None MINIMUM OPENING DEPOSIT None None None None ONLINE BANKING No Charge No Charge No Charge2 No Charge FDIC/SIF INSURANCE All deposits insured above FDIC limits All deposits insured above FDIC limits All deposits insured above FDIC limits All deposits insured above FDIC limits 1 Account must be jointly held with a parent/guardian who is an active Wellesley Bank client.