Common use of Other Payment Services Clause in Contracts

Other Payment Services. By providing us with names, bank account information and other contact information for Receivers to whom you wish to direct a payment using the Other Payment Services, you authorize us to follow the Payment Instructions that you provide. You acknowledge and agree that if your Payment Instructions identify an account by name and account number, the relevant financial institution may execute those Payment Instructions by reference to the account number only, even if such account number does not correspond to the account name. You further acknowledge and agree that financial institutions holding the account may choose to not investigate discrepancies between account names and account numbers. We have no responsibility to investigate discrepancies between account names and account numbers, outside of our obligations under the law to investigate errors. You understand and agree that when you initiate a Payment Instruction from an Eligible Transaction Account using the Other Payment Services, the processing and the debit from your Eligible Transaction Account will begin as early as the date that you indicate that your transaction should be initiated. Zelle will not transfer the credit to the Receiver any earlier than the next Business Day after you have initiated the payment. If you request a one-time Payment Instruction to be initiated on a specified date or a recurring series of Payment Instructions to be initiated on specified dates, then the processing of the Payment Instruction will begin on the specified date and your Account will be debited as early as the specified date(s). You acknowledge and agree that we will begin to process the transfer once the Receiver has provided (or we otherwise obtain) all required information, and you hereby authorize and direct us to retain such funds until the earlier of such time as the Receiver has provided (or we otherwise obtain) all required information or fourteen (14) calendar days have elapsed. You further acknowledge and agree that our receipt of money to be transmitted to a Receiver shall not be deemed to have occurred, and our obligation to complete a Payment Instruction shall not begin, until such time as the Receiver provides us with (or we otherwise obtain) all required information necessary to process the related Payment Instruction in accordance with these terms. Any cancellation of a Payment Instruction prior to the Receiver providing us with such information shall be subject to these provisions.

Other Payment Services. By providing us with names, bank account information and other contact information for Receivers to whom you wish to direct a payment using the Other Payment Services, you authorize us to follow the Payment Instructions that you provide. You acknowledge and agree that if your Payment Instructions identify an account by name and account number, the relevant financial institution may execute those Payment Instructions by reference to the account number only, even if such account number does not correspond to the account name. You further acknowledge and agree that financial institutions holding the account may choose to not investigate discrepancies between account names and account numbers. We have no responsibility to investigate discrepancies between account names and account numbers, outside of our obligations under the law to investigate errors. You understand and agree that when you initiate a Payment Instruction from an Eligible Transaction Account using the Other Payment Services, the processing and the debit from your Eligible Transaction Account will begin as early as the date that you indicate that your transaction should be initiated. Zelle Zelle® will not transfer the credit to the Receiver any earlier than the next Business Day after you have initiated the payment. If you request a one-time Payment Instruction to be initiated on a specified date or a recurring series of Payment Instructions to be initiated on specified dates, then the processing of the Payment Instruction will begin on the specified date and your Account will be debited as early as the specified date(s). You acknowledge and agree that we will begin to process the transfer once the Receiver has provided (or we otherwise obtain) all required information, and you hereby authorize and direct us to retain such funds until the earlier of such time as the Receiver has provided (or we otherwise obtain) all required information or fourteen (14) calendar days have elapsed. You further acknowledge and agree that our receipt of money to be transmitted to a Receiver shall not be deemed to have occurred, and our obligation to complete a Payment Instruction shall not begin, until such time as the Receiver provides us with (or we otherwise obtain) all required information necessary to process the related Payment Instruction in accordance with these terms. Any cancellation of a Payment Instruction prior to the Receiver providing us with such information shall be subject to these provisions.