Common use of Fund Transfer Clause in Contracts

Fund Transfer. A request made to FirstBank Florida to transfer funds between your accounts through FirstBank Florida On- Line constitutes your authorization to FirstBank Florida to withdraw the necessary funds from the account designated by you. You agree to instruct FirstBank Florida to transfer funds only when the designated account has sufficient and available funds according to your request. FirstBank Florida shall not be obliged to process a fund transfer request if the designated account has no sufficient funds, including overdraft protection thru automatic transfers from existing accounts. You shall be responsible for verifying on the next day the effectiveness of the transaction requested by you. If at the time of requesting a fund transfer a fund retention order has been placed on a deposit made to the designated account, you shall not be able to transfer the portion of the retained funds until the expiration of said retention order. All fund transfers (including electronic payments) made according to this agreement are considered to be electronic fund transfers under the federal law known as the Electronic Fund Transfer Act. Your rights and responsibilities under that law are contained in the Electronic Transfer Disclosure submitted to you upon opening your account. If you wish, for any reason, to cancel a fund transfer with a future or recurrent date, you must notify us five (5) days before the effective date of said transaction. To notify us of said cancellation, you may contact us by visiting one of our branch locations or by calling us at the On-Line Banking Department at 1-866-456-BANK.

Fund Transfer. A request made to FirstBank Florida to transfer funds between your accounts through FirstBank Florida On- On-Line constitutes your authorization to FirstBank Florida to withdraw the necessary funds from the account designated by you. You agree to instruct FirstBank Florida to transfer funds only when the designated account has sufficient and available funds according to your request. FirstBank Florida shall not be obliged to process a fund transfer request if the designated account has no sufficient funds, including overdraft protection thru automatic transfers from existing accounts. You shall be responsible for verifying on the next day the effectiveness of the transaction requested by you. If at the time of requesting a fund transfer a fund retention order has been placed on a deposit made to the designated account, you shall not be able to transfer the portion of the retained funds until the expiration of said retention order. All fund transfers (including electronic payments) made according to this agreement are considered to be electronic fund transfers under the federal law known as the Electronic Fund Transfer Act. Your rights and responsibilities under that law are contained in the Electronic Transfer Disclosure submitted to you upon opening your account. If you wish, for any reason, to cancel a fund transfer with a future or recurrent date, you must notify us five (5) days before the effective date of said transaction. To notify us of said cancellation, you may contact us by visiting one of our branch locations or by calling us at the On-Line Banking Department at 1-866-456-BANK.