Receipt of Funds Transfer. A “funds transfer” is a transfer of funds to your account which is not initiated by a check, draft, or similar paper instrument issued to you but by a payment order directed to the institution holding the payor's funds. Most funds transfers, including regularly recurring transfers such as direct deposit of Social Security payments or wages, are governed by our Electronic Funds Transfer (“EFT”) and Debit Card Agreement. Some transfers are not. If we receive a “funds transfer” to your account that is not governed by our EFT Agreement and that we are not required by law to accept, we may, at our discretion, refuse to accept it. If we accept a “funds transfer” not governed by our EFT Agreement, we may, at our discretion, send notice by First- Class mail to your last address as it appears on our records, but we do not agree to send notice (other than your periodic statement) if you get a statement for that account.
Appears in 4 contracts
Samples: Your Agreement, Your Agreement, Account Agreement
