Common use of General Rules for Consumer and Commercial Funds Transfers Clause in Contracts

General Rules for Consumer and Commercial Funds Transfers. This section applies to all electronic deposits, electronic payments, wire transfers, and other EFTs affecting your account. We describe your additional rights and obligations regarding Consumer EFTs in Section H. If there is a conflict between this section and Section H as to Consumer EFTs, Section H will govern. This section applies to transfers based on instructions received from you, or anyone else authorized on your signature card, or anyone else you authorize to conduct any transaction. In this Section G the term “payment order” means an instruction to us to pay, or to cause another bank to pay, money to a third party, known as the “beneficiary” of the payment order. You agree to indemnify and hold harmless the Bank from and against any and all claims, demands, expenses (including, but not limited to, attorney’s fees and costs), losses, or damage of any nature whatsoever, unless caused by gross negligence of the Bank, arising directly or indirectly from any payment order that you or your authorized representative initiates pursuant to this Agreement. You may not reverse, adjust, or cancel a payment order after we receive it, unless we agree to do so in our sole discretion. In the case of an erroneous or otherwise irregular transfer of funds out of your account, the Bank may, but shall not be obligated to, request the transferee to return the funds. A payment order is charged against your account when we make the transfer. The Bank reserves the right to utilize any funds transfer system of the Bank’s choosing and any intermediary bank to be used in the execution of any payment order and the Bank may otherwise use any other means of executing the payment order which the Bank deems reasonable. If a payment order is in a currency other than the U.S. dollar, the Bank will charge your account for the U.S. dollar equivalent of the amount of the foreign currency that you request be transferred at the Bank’s then prevailing rate of exchange or as we otherwise agree with you in writing. In processing your payment orders, other banks may deduct their fees from the payment orders and those fees will be your responsibility. If the beneficiary’s bank is instructed to pay the beneficiary in a currency other than its local currency, payment may be made by the beneficiary’s bank at whatever rate of exchange it uses on the date of its payment. You will be responsible for complying with all local currency restrictions and any other local laws governing the transaction. In accepting a payment order, the Bank may rely upon the identifying number (such as Fedwire routing number or account number) of the beneficiary, the beneficiary’s bank, or any intermediary bank and use only those numbers in executing the order. Similarly, the beneficiary’s bank may pay the payment order based on the account number you provide in the payment order even though the owner or holder of that account is different from the named beneficiary. We do not verify that there are no discrepancies between any identifying number and any associated name. Any discrepancy is entirely your responsibility. You are responsible for any inconsistency between any name and identifying number in a payment order you give to us. Therefore, you are responsible to make sure that the identifying number you include on any payment order is correct. The Bank may elect not to act on a payment order if the Bank thinks that the refusal is appropriate, in its sole discretion. For example, and only as examples, the Bank may decide not to act on a payment order if we are unable to obtain satisfactory verification of the payment order; if any inconsistency appears between the payment order and any information that the Bank has; or if the payment order is not given in accordance with the Bank’s customary procedures. The Bank is not required to notify you of any incoming funds transfer that is deposited into your account, other than to include the amount in your next regular account statement. You may not withdraw such funds until the Bank receives payment from the sending bank.

General Rules for Consumer and Commercial Funds Transfers. This section applies to all electronic deposits, electronic payments, wire transfers, and other EFTs affecting your accountelectronic funds transfers, initiated by, or authorized by, any customer of the Bank. We describe your additional rights and obligations regarding Section H also governs for Consumer EFTs as defined in Section H. If that section, and if there is a conflict between this section and Section H as to Consumer EFTs, Section H will governgovern Consumer EFTs. This section applies to transfers based on instructions received from you, or anyone else authorized on your signature card, or anyone else you authorize to conduct any transaction. In this Section G the term “payment order” means an instruction to us to payThe Bank may, at its option, accept transfer requests by telephone, by facsimile, or electronic transmission, or may require original written instructions from an authorized signator on a form designated by the Bank and filled out in its entirety. The Bank will use its best efforts to cause another bank to pay, money to a third party, known as execute transfer requests by the “beneficiary” end of the payment orderbusiness day the Bank receives a completed request if the request is received before noon. Transfer requests received after noon may not be executed until the following business day. You authorize the Bank to record electronically any telephonic instructions received by the Bank; however, the Bank has no duty to record any such instructions. You agree to indemnify and hold harmless the Bank from and against any and all claims, demands, expenses (including, but not limited to, attorney’s fees and costs), losses, or damage of any nature whatsoever, whatsoever arising directly or indirectly from any transfer request initiated pursuant to this Agreement unless caused by gross negligence of the Bank, arising directly . In no event will the Bank be liable for any consequential or indirectly from any payment order that you or your authorized representative initiates pursuant to this Agreementspecial damages. You may not will have no right to reverse, adjust, or cancel revoke a payment order transfer request after we receive itit is received by the Bank, unless we agree to do so in our sole discretionexcept by mutual agreement. In the case of an erroneous or otherwise irregular transfer of funds out of your accountfunds, the Bank may, but shall not be obligated to, request the transferee to return the fundsfunds previously transferred on your behalf. A payment order transfer request issued by you is charged against your account when we make at the transfertime the transfer is made. The Notwithstanding any instructions by you to the contrary, the Bank reserves the right to utilize any funds transfer system of the Bank’s choosing and any intermediary bank to be used in the execution of any payment order and accepted by the Bank and may otherwise use any other means of executing the payment order which the Bank deems reasonablereasonable under the circumstances. If you issue, and the Bank accepts, a payment order is for payment outside the U.S. in a currency other than the U.S. dollar, the Bank will charge shall debit your account for the U.S. dollar equivalent of the amount of the foreign currency that you request be transferred at the Bank’s then prevailing rate of exchange or as we otherwise agree with you in writingagreed. In processing your payment ordersfunds transfers, other banks may deduct their fees from the payment orders and those fees will be your responsibilityissued to them. If the beneficiary’s bank is instructed to pay the beneficiary in a currency other than its local currency, payment may be made by the beneficiary’s bank at whatever its rate of exchange it uses on the date of its payment. You will In connection with each funds transfer, you shall be responsible for complying with all local currency restrictions and any other local laws governing the transaction. In accepting a payment orderorder issued in your name, the Bank may rely upon the identifying number (such as Fedwire routing number or account number) of the beneficiary, the beneficiary’s bank, or any intermediary bank and use only those such numbers in executing the order. SimilarlyAlso, the beneficiary’s bank may pay the named in any payment order based may make payment on the account basis of the identifying number you provide in the payment order even though the owner or holder of that account is different it identifies a person differently from the named beneficiary. We do not verify that there are no discrepancies between any identifying number and any associated name. Any discrepancy is entirely your responsibility. You are Accordingly, you shall be responsible for any inconsistency between any the name and identifying number of any party in a payment order you give to us. ThereforeFor your protection, you are responsible to make sure that the identifying number you include on any payment order is correct. The Bank may elect not to act on upon a transfer request or other payment order if the Bank thinks that the refusal is appropriate, in its sole discretion. For example, and only as examples, the Bank may decide not to act on a payment order if we are unable to obtain satisfactory verification of the payment request or order; if any inconsistency appears between the payment a transfer request or order and any information that previously supplied to the Bank hasBank; or if the payment such request or order is not given initiated in accordance with the Bank’s customary transfer procedures. The In any funds transfer in which you are the recipient or beneficiary of the transfer, the Bank is shall not required be obligated to notify you of any incoming funds transfer that is deposited into such payment to your account, other than to include the amount record such payment in your next regular account statementstatement of account. You may not withdraw such funds until the Bank receives has received payment from the sending banksender of such transfer.

General Rules for Consumer and Commercial Funds Transfers. This section applies to all electronic deposits, electronic payments, wire transfers, and other EFTs affecting your account. We describe your additional rights and obligations regarding Consumer EFTs in Section H. If there is a conflict between this section and Section H as to Consumer EFTs, Section H will govern. This section applies to transfers based on instructions received from you, or anyone else authorized on your signature card, or anyone else you authorize to conduct any transaction. In this Section G the term “payment order” means an instruction to us to pay, or to cause another bank to pay, money to a third party, known as the “beneficiary” of the payment order. You agree to indemnify and hold harmless the Bank from and against any and all claims, demands, expenses (including, but not limited to, attorney’s fees and costs), losses, or damage of any nature whatsoever, unless caused by gross negligence of the Bank, arising directly or indirectly from any payment order that you or your authorized representative initiates pursuant to this Agreement. You may not reverse, adjust, or cancel a payment order after we receive it, unless we agree to do so in our sole discretion. In the case of an erroneous or otherwise irregular transfer of funds out of your account, the Bank may, but shall not be obligated to, request the transferee to return the funds. A payment order is charged against your account when we make the transfer. The Bank reserves the right to utilize any funds transfer system of the Bank’s choosing and any intermediary bank to be used in the execution of any payment order and the Bank may otherwise use any other means of executing the payment order which the Bank deems reasonable. If a payment order is in a currency other than the U.S. dollar, the Bank will charge your account for the U.S. dollar equivalent of the amount of the foreign currency that you request be transferred at the Bank’s then prevailing rate of exchange or as we otherwise agree with you in writing. In processing your payment orders, other banks may deduct their fees from the payment orders and those fees will be your responsibility. If the beneficiary’s bank is instructed to pay the beneficiary in a currency other than its local currency, payment may be made by the beneficiary’s bank at whatever rate of exchange it uses on the date of its payment. You will be responsible for complying with all local currency restrictions and any other local laws governing the transaction. In accepting a payment order, the Bank may rely upon the identifying number (such as Fedwire routing number or account number) of the beneficiary, the beneficiary’s bank, or any intermediary bank and use only those numbers in executing the order. Similarly, the beneficiary’s bank may pay the payment order based on the account number you provide in the payment order even though the owner or holder of that account is different from the named beneficiary. We do not verify that there are no discrepancies between any identifying number and any associated name. Any discrepancy is entirely your responsibility. You are responsible for any inconsistency between any name and identifying number in a payment order you give to us. Therefore, you are responsible to make sure that the identifying number you include on any payment order is correct. The Bank may elect not to act on a payment order if the Bank thinks that the refusal is appropriate, in its sole discretion. For example, and only as examples, the Bank may decide not to act on a payment order if we are unable to obtain satisfactory verification of the payment order; if any inconsistency appears between the payment order and any information that the Bank has; or if the payment order is not given in accordance with the Bank’s customary procedures. The Bank is not required to notify you of any incoming funds transfer that is deposited into your account, other than to include the amount in your next regular account statement. You may not withdraw such funds until the Bank receives payment from the sending bank. NOTICE IF YOU LOSE YOUR ACCESS DEVICE OR IF YOU THINK THERE IS AN UNAUTHORIZED ELECTRONIC FUND TRANSFER of your ATM, debit card, or PIN, or other transfer without your permission, you can lose no more than $50 if someone used your ATM, debit card, or PIN without your permission or made any other transfer without your permission. If you do NOT tell us within 2 business days after you learn of an unauthorized EFT, or within 2 business days after the loss or theft of your ATM, debit card, or PIN, and we can prove we could have stopped someone from using your ATM, debit card, or PIN without your permission, or making any other unauthorized EFT covered by this Section, if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code, or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. If you believe your ATM, debit card, or PIN has been lost or stolen, or if you are aware of any unauthorized transfer, call us at (000) 000-0000 or (000) 000-0000, or write to us at The Berkshire Bank, Operations Department, 0 Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000. You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission. For purposes of these disclosures, our business days are Monday through Friday, excluding federal holidays. (1) Account access. You may use your ATM, debit card, or PIN to: • Withdraw cash from your checking or savings account. • Make deposits to your checking or savings account. • Transfer funds between your checking and savings accounts whenever you request. • Pay for purchases at places that have agreed to accept ATM, debit card, or PIN. • Pay bills directly by telephone from your checking or savings account in the amounts and on the days you request. Some of these services may not be available at all terminals.