Rejection of Wire Transfer Instructions. The Credit Union may, at its sole discretion, but without obligation or duty to do so except to the extent otherwise specifically provided in this Agreement, by a notice of rejection delivered orally, electronically or in writing, reject any Payment Order, including, without limitation, any Payment Order that the Credit Union believes (a) exceeds the collected and available funds on deposit in your designated Account(s); (b) exceeds any of the Online Banking Wire Transfer Limits; (c) is not authenticated to the Credit Union’s satisfaction, or which the Credit Union otherwise believes may not be authorized by you; (d) contains incorrect, inconsistent, ambiguous, or missing information; (e) involves funds which are subject to a lien, security interest, claim hold, dispute, or legal process prohibiting withdrawal; (f) exceeds legal, regulatory, payment system or governmental policy limitation; (g) may have been issued without proper authorization; or (h) is incomplete. The Credit Union shall incur no liability to you for any losses incurred by the Credit Union’s refusal, with or without notice to you, to honor any Payment Order. The Credit Union may reject, except when prohibited by law, at its sole discretion, any transfer request it receives from the Member for any reason. The Credit Union will comply with regulations issued by the U.S. Treasury’s Office of Foreign Asset Control (OFAC) any transfer request that is to an entity or person listed on OFAC’s list of specially designated nationals and blocked persons by law the Credit Union shall not complete the transfer and shall “block” the funds until such time OFAC issues a release to the Credit Union. The Credit Union shall have no liability to the Member as a result of Credit Union’s rejection of any transfer request or internal transfer if it complies with the terms of this Agreement.
Appears in 9 contracts
Samples: Account Agreement, Account Agreement, Account Agreement
