Common use of FINANCIAL INSTITUTION’S LIABILITY Clause in Contracts

FINANCIAL INSTITUTION’S LIABILITY. Liability for failure to make transfers – If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses and damages. However, there are some exceptions. We will not be liable, for instance:  If through no fault of ours, you do not have enough money in your account to make the transfer.  If the money in your account is subject to legal process or other claim restricting such transfer.  If the transfer would go over the credit limit on your overdraft line.  If the automated teller machine where you are making the transfer does not have enough cash.  If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.  If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable efforts  There may be other exceptions stated in our agreement with you.