Common use of Identifying Numbers Supersede Identified Names Clause in Contracts

Identifying Numbers Supersede Identified Names. If there is any inconsistency in a payment order between an identifying number and a name given in the payment order, we may use the identifying number in executing the payment order without verifying that the number is correct. You expressly acknowledge that when a payment order identifies a beneficiary, beneficiary’s bank, or intermediary bank inconsistently by name and an identifying number, payment may be made by the intermediary or beneficiary bank on the basis of the identifying number, even if the identifying number identifies a person or entity different from the named beneficiary in your payment order. Your obligation to pay the payment order shall not be excused by your error. HSA Bank and other banks accepting the orders are not required to check or verify any identifying or Account number given by you with any name given. You agree, therefore, that HSA Bank and others may rely on identifying or Account numbers that you provide to us.

Identifying Numbers Supersede Identified Names. If there is any inconsistency in a payment order between an identifying number and a name given in the payment order, we may use the identifying number in executing the payment order without verifying that the number is correct. You expressly acknowledge that when a payment order identifies a beneficiary, beneficiary’s bank, or intermediary bank inconsistently by name and an identifying number, payment may be made by the intermediary or beneficiary bank on the basis of the identifying number, even if the identifying number identifies a person or entity different from the named beneficiary in your payment order. Your obligation to pay the payment order shall not be excused by your error. HSA Bank and other banks accepting the orders are not required to check or verify any identifying or Account account number given by you with any name given. You agree, therefore, that HSA Bank and others may rely on identifying or Account account numbers that you provide to us.