Common use of Reliance Upon Information Provided Clause in Contracts

Reliance Upon Information Provided. (i) You acknowledge and agree that the Bank is relying upon the information you provide, as well as information provided by the external financial institution sending transfers to you, when we process a transfer on your behalf. (ii) When we receive a check, ACH, or wire transfer requests to deposit funds into an Account, we do not have a duty to determine whether the Account number provided to us matches the name or other information given to us with the transfer or transfer request. For this reason, we will not be liable to you if we credit a transfer that was intended for your Account to another customer’s Account. (iii) When you provide us with information to initiate a transfer, you agree that we will not be responsible for accuracy of the information or for any errors or discrepancies in the account names and numbers or the ABA Routing Transit Number and name of the external financial institution holding your account, and you agree that we have no responsibility to determine accuracy or investigate any of these errors or discrepancies. (iv) It is important to note, specific types of transfers (e.g., ACH and wire transfers) are subject to additional provisions set forth in this Agreement that govern those particular types of transfers.