Common use of Processing of Transfer Requests Clause in Contracts

Processing of Transfer Requests. General Transfers can be made in two ways, either on a one-time or recurring basis. One-time transfers may be immediate or scheduled for a future date. The recurring transfer feature may be used when a set amount is transferred at regular intervals. For example, a $100 transfer from a checking to a savings account that occurs every two weeks. One-time immediate transfers can be made from a linked Pinnacle Bank checking, savings, money market, or line of credit to most linked Pinnacle Bank accounts. One-time scheduled and recurring transfers can be made from a linked Pinnacle Bank checking, savings, or money market account to a linked checking or savings account. Transfers can be made from a linked Pinnacle Bank personal checking, savings, money market or line of credit account to most personal checking, savings, or money market accounts of other Pinnacle Bank customers. Some account types, including those with foreign addresses, cannot be set up to receive funds. Transfers from a deposit account are immediately reflected in the account's available balance. Transfers from a line of credit account are immediately reflected in the account's available credit amount.