Common use of Incoming Wire Transfers Clause in Contracts

Incoming Wire Transfers. Funds from incoming wire transfers are considered received on a business day if they are received and validated prior to 12:00 PM Pacific Time, and are generally available for use on the same business day. Wires received and validated after 12:00 PM Pacific Time may be credited the following business day. ● Limits: No limits on incoming wire transfers. ● To validate the wire, we compare the information on the wire instructions to the Account information. If the information on the wire transfer differs from the Account information, we may hold the wire until we receive supporting documentation and/or return the wire if we do not receive the information or if the information we receive still differs from the Account information.