Payment Orders. You may instruct the Credit Union to execute a Wire Transfer(s) on your behalf (each a “Payment Order”) by submitting the Payment Order to the Credit Union in such form as the Credit Union requires, and by following the procedures established by the Credit Union for verifying the authenticity of Payment Orders (“Security Procedure”).
Payment Orders. If you want to stop payment on a check you have written, you may place a written stop payment order at a branch or contact our Call Center to stop payment before it is finally paid by us. Any authorized signer on the account may furnish a stop payment order. You must furnish us with the date, the check number, and the exact amount of the check and the name of the payee in order for us to stop payment on the item. If you provide us with any incorrect or incomplete information, we will not be responsible for our failure to stop payment on the check. We will not be responsible for a stop payment order if we do not have a reasonable opportunity to act on it before final payment of the item. You may not stop payment on a check guaranteed by us. You may furnish the stop payment order orally or in writing. The order will remain in effect for twelve (12) months and must be renewed by you every twelve (12) months to remain in effect. If you do not renew the stop payment order when it expires and the item is presented for payment, we may pay the item and charge it to your account. There is a charge for each stop payment order and renewal order requested. See Fee Schedule. In some cases, we may pay an item even if a stop payment request is in effect. If we, or another person or entity, is determined by us to be a “holder in due course” of the item, we may pay the item. If we pay a check which has a valid stop payment order on it with correct information, we may be responsible to you for up to the face amount of the item if you establish that you have suffered a loss because we paid the item. You agree to assign to us all of your rights against the payee and/or any other holder of your check. You also agree to cooperate fully with us in any collection or legal actions that we subsequently take against such persons. Anyone holding the check, including the Bank, may be entitled to enforce payment against you despite the stop payment order. You agree to indemnify, defend, and hold us harmless from all costs, actions, damages, claims, and demands related to or arising from our action in stopping payment on the check. You may not stop payment on point-of-sale Debit Card transactions, cashier’s checks, or checks or payments guaranteed by us. Under certain circumstances, however, you may be able to claim a refund on lost, stolen or destroyed cashier’s checks ninety (90) days following the date of their issuance. Please note that electronic stop payment requests (through our ...
Payment Orders. Payment orders for funds transfer transactions, and the cancellation or amendment thereof (“Payment Order(s)”), shall be communicated to us only via such means as we specifically agree with you in writing. Payment Orders must be received at the Funds Transfer Department at our Office on a Banking Day and before such cut-off time(s) as we designates from time to time for Payment Orders. Payment Orders not received on a Banking Day or received after the designated cut-off time(s) shall not be processed by us until its next succeeding Banking Day. We reserve the right to process Payment Orders received by us from its various customers in such order as is determined by us, at its sole discretion. We further reserve the right to reject or delay its acceptance and/or execution of any Payment Order which we determine is unclear, incomplete or otherwise unsatisfactory to us. If a Payment Order does not specifically designate the Account which is to serve as the source of payment of the Payment Order, any of your Accounts at the Branch shall be an authorized Account for such Payment Order, if payment of the Payment Order from that Account is not inconsistent with any restrictions imposed by you on the use of that Account. We will use reasonable efforts to provide you with written notice of its rejection of any Payment Order on or prior to the execution date of the Payment Order, using the same means of communication used by you to transmit the Payment Order to us; provided, however, that we shall not be liable to you for interest compensation as a result of its failure to give such notice. You agree that this procedure constitutes a commercially reasonable means of notice. We may condition our acceptance and/or execution of a cancellation or amendment of the Payment Order by any one or all of the following: (a) receipt of adequate information reasonably identifying the original Payment Order, (b) an indemnity or bond holding us harmless from any and all liability arising from our execution of the amendment or cancellation, (c) our receipt of sufficient notice to provide it with a reasonable opportunity to act, and (d) compliance with the Security Procedure (hereafter described).
Payment Orders. Funds credited to the Cash Account shall be transferred by us by means of instruction (a "payment order") to one of your account administrators assigned by you for the Custody Account, which you will identify to us. We agree that payment orders and communications seeking to cancel or amend payment orders which are issued by telephone, telecopier or in writing shall be subject to a mutually agreed security procedure and you may execute or pay payment orders issued in our name when verified by you in accordance with such procedure.
Payment Orders. Unless otherwise specified in the Service terms and conditions, any stop payment order which Customer wishes to place on a check drawn on an Account that is the subject of a Service or is otherwise related to a Service will be placed in accordance with Bank’s normal stop payment procedures for other accounts in effect at that time.
Payment Orders. 14.1 You or an Authorised Person may from time to time provide Payment Orders to us in accordance with clause 8. The Payment Order must confirm the amount and currency of the money or Electronic Money (as appropriate) you wish to transfer to the Beneficiary and the following details (referred to in these Terms as the “Unique Identifiers”):
(a) full name and address of the Beneficiary;
(b) if the Beneficiary’s Account is not an Lumon Wallet, the account details of the Beneficiary and the Beneficiary’s payment service provider which shall be:
(1) the sort code and account number where the Beneficiary’s payment service provider is located within the United Kingdom; or
(2) the IBAN and SWIFTBIC where the Beneficiary’s payment service provider is located outside the UK; or
(3) such other details that we request from you.
14.2 If you think that you have provided incorrect Unique Identifiers, you must contact Us immediately by telephone or email using the contact details set out in clause 3.
14.3 The Payment Order shall be deemed to be received at the time at which it is received except that:
(a) where the Payment Order is received:
(1) on a day which is not a Business Day; or
(2) after 4 pm, London time on a Business Day, we have the right to treat your Payment Order as having been received on the next Business Day; and
(b) if the Payment is to be made on a specified day in the future (for example on the Value Date of the FX Contract), your Payment Order shall be deemed to be received on the specified day provided that:
(1) the specified day is a Business Day; and
(2) we hold enough Electronic Money in your Lumon Wallet in the correct currency by midday on that specified day to execute the Payment. If the specified day is not a Business Day or we do not hold enough Electronic Money in your Lumon Wallet in the correct currency by midday, we shall be deemed to have received the Payment Order on the next Business Day that we do hold enough Electronic Money in your Lumon Wallet in the correct currency by midday to execute the Payment.
14.4 Following receipt of a Payment Order, we may:
(a) refuse that Payment Order and if we do so, we shall (unless it would be unlawful for us to do so) notify you of that refusal, the reasons for that refusal (if possible), and the procedure for rectifying any factual errors that lead to that refusal. Such notification shall be given to you as soon as practicable following the refusal. A Payment Order which is refused by us shall be d...
Payment Orders. This is not the document that authorizes a payment order or other electronic funds transfers. We may require you to complete a separate document at the time of each payment order.
Payment Orders. You may stop payment on any item that you have drawn against funds in your account(s). We must receive your stop payment order in time for us to have a reasonable opportunity to act upon it. Our cut-off time for stop payment orders is one hour after our opening on the next banking day after the banking day on which we received your check. If you request us to stop payment on an item orally, we may request that you confirm your stop payment order in writing. Any written stop payment order will only be effective for six months and if you wish to renew the stop payment order at the end of said six months, you must so advise us in writing.
Payment Orders a) Content of Payment Orders. Customer will supply to Bank any information Bank may reasonably request regarding any Payment Order initiated by Customer, including, without limitation, money amounts, affected accounts, dates of transfer, the Beneficiary’s name and account number, the name and routing number or bank identifier code of the Beneficiary’s Bank, such additional information as Bank may reasonably request and, if necessary, further evidence of any User’s or Authorized Xxxxxx’s authority to transfer funds or to do any other act contemplated by this Service.
b) Execution of Payment Orders. Customer authorizes Bank to execute and charge Xxxxxxxx’s Account(s) with Bank for Payment Orders delivered to Bank in accordance with this Agreement. Bank has no obligation to execute a Payment Order if Customer’s Account to be charged has insufficient collected funds to cover the Order. If Bank elects to make any transfer that exceeds the amount of collected funds, Customer shall be liable for any amount transferred in excess thereof, including a Collected Funds Waiver fee and other fees where applicable.
c) Processing Payment Orders. The order in which Bank processes Wire Transfer Payment Orders is determined solely by Bank. Customer does not have the right to reverse, adjust or revoke any Payment Order after it has been received by Bank, provided, however, that Bank will make a reasonable effort to act on such a request by Customer. With respect to a Payment Order already transmitted to the Beneficiary’s bank, Bank shall, at Customer’s request, request the Bank to return funds previously transferred. Customer understands that the receiving institution is under no legal obligation to comply with this request. Bank may use means and routes that Bank thinks in its own discretion are suitable for each outgoing Wire Transfer. Bank sends outgoing Wire Transfers through Fedwire (the funds transfer system owned and operated by the Federal Reserve Banks or other provider).
d) Rejection of Payment Orders. Bank may reject a Payment Order from Customer if such Payment Order is not initiated in accordance with the applicable security procedure, if there is any inconsistency between a Payment Order and information previously supplied to Bank, if Bank is unable to obtain confirmation of such Payment Order satisfactory to Bank, if there are insufficient collected funds in Customer’s specified account to fund the Payment Order, or if Bank has other reasonable grounds not to h...
Payment Orders. The following provisions apply to payment orders governed by Article 4A, Funds Transfers, of the Uniform Commercial Code, as adopted by the state of Texas.1 Such payment orders include wire transfers. These provisions do not apply to transactions described above in the Electronic Banking Services section of this agreement, or to payments by check, draft, or similar instrument. FSB may charge fees for sending or receiving a payment order. FSB may deduct its fees from your account or from the amount of the transfer. For current fees, see the Service Fee Schedule. Funds Transfer services may not be available to all account holders. FSB reserves the right to limit the availability of Funds Transfer services based on such factors as credit worthiness, the length and extent of your relationship with FSB and its affiliates, transaction and experience history, and such other factors as FSB, in its sole discretion, deems relevant.
