Common use of Ineligible Accounts Clause in Contracts

Ineligible Accounts. Through the Online Business Banking Wire Transfer Service you can provide us with electronic instructions to transfer funds to third parties. You must be approved by us before you can use the Wire Transfer Service. The Wire Transfer Service is also not available to any NOW, Savings or Money Market Account or to any Account that requires two or more authorized signatures on checks, drafts, or negotiable orders of withdrawal written against such Account. The Bank may also, at its discretion, determine for other reasons that an Account is ineligible for the Wire Transfer Service, including reasons relating to poor account or credit history, or high risk banking activity as determined by the Bank. The Bank reserves the right to deny access to the Wire Transfer Service if the Service is misused by the Customer at any time without advance notice. In the event the Wire Transfer Service is deactivated, it is the Customer’s responsibility to make other arrangements for payments. The Bank will not be held liable for any missed payments and/or fees due to the deactivation of the Wire Transfer Service.