Common use of Reliance on Account Number Clause in Contracts

Reliance on Account Number. ‌ When processing an ACH funds transfer, we will rely on the account number or other identifying number transmitted with the funds transfer even if the number identifies a person different from the named beneficiary. When processing a wire funds transfer, we will rely on the account number or other identifying number and the beneficiary’s name transmitted with the funds transfer.

Reliance on Account Number. ‌ When processing an ACH funds transfer, we will rely on the account number or other identifying number transmitted with the funds transfer even if the number identifies a person different from the named beneficiary. When processing a wire funds transfer, we will rely on the account number or other identifying number and the beneficiary’s name transmitted with the funds transfer.