Common use of Receiving Money; Money Transfers by Network Banks Clause in Contracts

Receiving Money; Money Transfers by Network Banks. Once a User initiates a transfer of money to your email address or mobile phone number enrolled with the Service, you have no ability to stop the transfer. By using the Service, you agree and authorize us to initiate credit entries to the bank account you have enrolled. Most transfers of money to you from other Users will occur within minutes. There may be other circumstances when the payment may take longer. For example, in order to protect you, us, Xxxxx and the other Network Banks, we may need or Zelle may need additional time to verify your identity or the identity of the person sending the money. We may also delay or block the transfer to prevent fraud or to meet our regulatory obligations. If we delay or block a payment that you have initiated through a request for money, we will notify you in accordance with your User preferences (i.e., email, push notification). If you are receiving a payment from a business or government agency, your payment will be delivered in accordance with both these Terms of Use and the procedures of the business or government agency that is sending you the payment. You acknowledge and agree that in the event that funds are transferred into your account as a result of a Payment instruction and it is determined that such transfer was improper because it was not authorized by the sending User, because there were not sufficient funds in the sending User’s account, or for any other reason, then you hereby authorize us to withdraw from your account an amount equal to the amount of funds improperly transferred to you.

Receiving Money; Money Transfers by Network Banks. Once a User initiates a transfer of money to your email address or mobile phone number enrolled with the Service, you have no ability to stop the transfer. By using the Service, you agree and authorize us to initiate credit entries to the bank account you have enrolled. Most transfers of money to you from other Users will occur within minutes. There may be other circumstances when the payment may take longer. For example, in order to protect you, us, Xxxxx and the other Network Banks, we may need or Zelle may need additional time to verify your identity or the identity of the person sending the money. We may also delay or block the transfer to prevent fraud or to meet our regulatory obligations. If we delay or block a payment that you have initiated through a request for money, we will notify you in accordance with your User preferences (i.e., i.e. email, push notification). If you are receiving a payment from a business or government agency, your payment will be delivered in accordance with both these Terms of Use and the procedures of the business or government agency that is sending you the payment. You acknowledge and agree that in the event that funds are transferred into your account as a result of a Payment instruction and it is determined that such transfer was improper because it was not authorized by the sending User, because there were not sufficient funds in the sending User’s account, or for any other reason, then you hereby authorize us to withdraw from your account an amount equal to the amount of funds improperly transferred to you.