Common use of Making Funds Transfers Effective Clause in Contracts

Making Funds Transfers Effective. When you request a funds transfer, you authorize us to follow the transfer instructions and send the funds from the designated originating account to the designated recipient account. We may process the transfer as early as the day you give the instructions (or the future date for which you have scheduled the transfer), but the earliest day on which the funds will be deposited into a receiving account at another financial institution is the following business day. Standard delivery time for a transfer to an account at another financial institution (unless you arrange for next day delivery) is 3 business days, but the Bank may delay sending the funds to the receiving account in its discretion for security purposes. The day we process the transfer is called the “Transaction Date”. We may refuse to act on your funds transfer instruction if there are not sufficient available funds in your originating account, including funds available through any sweep or automatic transfer feature, on the Transaction Date.

Making Funds Transfers Effective. When you request a funds transfer, you authorize us to follow the transfer instructions and send the funds from the designated originating account to the designated recipient account. We may process the transfer as early as the day you give the instructions (or the future date for which you have scheduled the transfer), but the earliest day on which the funds will be deposited into a receiving account at another financial institution is the following business day. Standard delivery time for a transfer to an account at another financial institution (unless you arrange for next day delivery) is 3 three (3) business days, but the Bank DCU may delay sending the funds to the receiving account in its discretion for security purposes. The day we process the transfer is called the “Transaction Date”. We may refuse to act on your funds transfer instruction if there are is not a sufficient available funds balance in your originating account, including funds available through any sweep overdraft line of credit or automatic transfer feature, on the Transaction Date.