Common use of Payments Service Clause in Contracts

Payments Service. This Service provides one mechanism for communicating Automated Clearing House (ACH) Entries, Fedwire wire transfer and internal book transfer requests to us. For Fedwire Wire Transfers and ACH credit payments initiated through our Payments Service: (a) We require that you utilize the Service’s Dual Control functions unless you execute a waiver and indemnification agreement acceptable to us. (b) We will notify you of the acceptance, execution or rejection of a Wire Transfer Order bymaking such information accessible to you online through the Service. You agree that such notice is acceptable under the applicable state’s version of the Uniform Commercial Code (“UCC”).

Payments Service. This Service provides one mechanism for communicating Automated Clearing House (ACH) Entries, Fedwire wire transfer and internal book transfer requests to us. For Fedwire Wire Transfers and ACH credit payments initiated through our Payments Service: (a) We require that you utilize the Service’s Dual Control functions unless you execute a waiver and indemnification agreement acceptable to us. (b) We will notify you of the acceptance, execution or rejection of a Wire Transfer Order bymaking by making such information accessible to you online through the Service. You agree that such notice is acceptable under the applicable state’s version of the Uniform Commercial Code (“UCC”).