Common use of Outgoing Funds Transfers Clause in Contracts

Outgoing Funds Transfers. (A) All outgoing Funds Transfers initiated via System require verification to be performed by two different authorized Member personnel. The first authorized individual will use his or her secure sign-on and PIN information to enter the applicable wire transfer instructions. The second authorized individual will use his or her secure sign-on and PIN information to verify the wire instructions. (B) Member may elect to establish transaction limits and/or thresholds and waive the secondary verification procedure on template-initiated Funds Transfers only by completing a Transaction Limits and Thresholds Voluntary Election form. Member should regularly review user authorities, limits and thresholds.

Outgoing Funds Transfers. (A) All outgoing Funds Transfers initiated via System require verification to be performed by two different authorized Member personnel. The first authorized individual will use his or her secure sign-on and PIN information to enter the applicable wire transfer instructions. The second authorized individual will use his or her secure sign-on and PIN information to verify the wire instructions. (B) Member may elect to establish transaction limits and/or thresholds and waive the secondary verification procedure on template-initiated Funds Transfers only by completing a Transaction Limits and Thresholds Voluntary Election form. Member should regularly review user authorities, limits limitslimits, and thresholds.