Common use of Prefunding Clause in Contracts

Prefunding. You understand that the Credit Union may prefund your external account transfer. The Credit Union may withdraw the money from your account before the settlement date of the external account transfer in order to verify the funds are available prior to the initiation of the transfer. If funds are not available for prefunding, then you agree that the Credit Union may cancel the external account transfer, and it will be your responsibility to reinitiate the external account transfer.

Appears in 4 contracts

Samples: Electronic Services Disclosure and Agreement, Electronic Services Disclosure and Agreement, Electronic Services Disclosure and Agreement

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