Common use of Reliance on Routing Number Clause in Contracts

Reliance on Routing Number. ‌ If you give us a payment order requesting a funds transfer that identifies any financial institution or account in the funds transfer by name and by a routing number or other identifying number, a receiving financial institution in the funds-transfer chain may rely on that number as the proper identifying number even if it identifies a financial institution or account holder different from the named financial institution or account holder.

Reliance on Routing Number. ‌ If you give us a payment order requesting a funds transfer that identifies any financial institution or account in the funds transfer by name and by a routing number or other identifying number, a receiving financial institution in the funds-transfer chain may rely on that number as the proper identifying number even if it identifies a financial institution or account holder accountholder different from the named financial institution or account holderaccountholder.