Common use of Limits on Transactions Clause in Contracts

Limits on Transactions. You agree not to use the Services to make or receive any transfer in violation of applicable law. If you request such a transfer, we are not obligated to process it. The Bank may impose limits on the dollar amount of (i) payments, including expedited payments, made with the Xxxx Payment Service; (ii) deposits through Mobile Deposit; (iii) funds transfers outside of Eastern Bank; and (iv) payments made through the P2P Service, and may change those limits from time to time. The limits in effect as of the most recent update to this Agreement are shown in the Schedule of Transaction Limits attached at the end of this Agreement. Information regarding current limits specifically applicable to your accounts is available in the Online Banking Services and Mobile Banking Services. If you submit a transaction through a Service that exceeds applicable limits, the Bank may, but is not obligated to, post the transaction to your account. In addition to transaction limits imposed by the Bank, there are federal regulations that limit the number of certain types of transfers from your savings accounts (including money market deposit accounts). Transactions through the Services, including transfers to your other accounts, do count against the limited number of transactions on these accounts, although payments to your loan accounts with us are not counted toward the limit. Your ability to transfer funds from your accounts may also be subject to other legal restrictions and service charges under the applicable deposit account agreement and fee schedule. You should review your deposit account agreement and the related fee schedule carefully for information regarding all applicable limitations and service charges.