Processing Wire Transfers. We shall process transfer requests based solely upon information received from you. We may, at our discretion, process wire transfer requests through either the Federal Reserve Bank System or a correspondent bank. At the time we initiate a wire, you agree to pay us with available funds on deposit for the amount of the transfer plus the current Wire Transfer Fee as listed in our fee schedule. If you fail to pay those fees, we may request cancellation of the transfer, or undertake any other legal means to collect the transferred amount if we are unable to cancel it, including exercise of right of offset as detailed in this Agreement.
Processing Wire Transfers. The Credit Union shall process transfer requests based solely upon information received from the Member. The Credit Union may, at its discretion, process the wire transfer request through either the Federal Reserve Bank System or the Society for Worldwide Interbank Financial Telecommunication (S.W.I.F.T.). In the case where the beneficiary's bank is the Credit Union, the Credit Union may simply debit and credit the appropriate accounts as requested in the authorized wire transfer request. At the time the Credit Union executes a wire transfer or internal transfer, the Member agrees to pay the Credit Union with available funds on deposit for the amount of the wire plus the current Wire Transfer Fee as listed in the Credit Union's fee schedule. If the Member fails to pay in accordance with this agreement, the Credit Union shall be entitled to request cancellation of the transfer, or to undertake any other legal means to collect the amount of the transfer if unable to cancel, including exercise of right of offset as detailed in the Credit Union's Deposit Agreement.
Processing Wire Transfers. If the Bank accepts a wire transfer request from the Customer, it shall be authorized to transfer funds in accordance with such request and shall further be entitled to debit the designated account for the payment of the wire transfer and any related fees and charges. The Bank reserves the right to reject a wire transfer request if collected funds are not available. If the Bank executes the wire transfer and collected funds are not available, the Bank may charge additional fees, including overdraft and insufficient funds (NSF) fees. If the Customer fails to pay, the Bank shall be entitled to request cancellation of the wire transfer or undertake any other legal means to collect the amount of the wire transfer and related fees and charges, including exercising the right to set off any of the Customer’saccounts. The Bank may exercise this right of setoff, without prior notice to the Customer.
Processing Wire Transfers. 2.1 Bank will process wire transfer requests based solely upon information received from Customer. Bank may, at its discretion, process the wire transfer request through either the Federal Reserve Bank System or the Society for Worldwide Interbank Financial Telecommunication (S.W.I.F.T.). In the case where the beneficiary’s bank is Bank, Bank may simply debit and credit the appropriate accounts as requested in the authorized wire transfer request.
2.2 If a wire transfer request indicates an intermediary bank or a beneficiary’s bank inconsistently by name and identifying number, execution of the request may be based solely upon the number, even if the number identifies a bank different from the named bank or a person who is not a bank. If a wire transfer request describes a beneficiary inconsistently by name and account number, payment may be made by the beneficiary’s bank based solely upon the account number, even if the account number identifies a person different from the named beneficiary. Customer’s obligations shall not be excused in these circumstances.
2.3 Bank may reject any transfer request or incoming wire transfer which does not conform to the limitations, security procedures, and/or other requirements set forth in this Agreement, such as availability of funds on deposit. Bank will notify Customer of Bank’s rejection of the transfer request by telephone, electronic message, or U.S. mail.
2.4 Customer acknowledges that any wire transfer request executed by Bank will be subject to rules and regulations applicable to payment orders, including record keeping and information transmittal requirements under the federal Bank Secrecy Act and its implementing regulations. Customer acknowledges and agrees that Bank may capture and transmit information regarding Customer (for example, Customer's name, address and account number) and regarding any beneficiary (for example, the beneficiary's name, address, account number, and other beneficiary identifiers) as part of the processing of a payment order. Customer agrees to assist Bank in connection with any requirements imposed on Bank in fulfilling Bank's obligations in this regard.
2.5 Bank will comply with regulations issued by the US Treasury’s Office of Foreign Assets Control (OFAC). If any wire transfer request is to an entity listed on OFAC’s list of Specially Designated Nationals and Blocked Persons, by law Bank will not complete the transfer and will “block” the funds until such time OFAC issues a writt...
