Common use of Scheduling External Transfers and Cutoff Time Clause in Contracts

Scheduling External Transfers and Cutoff Time. Transfers can be scheduled on either a one-time or recurring basis. Processing of one-time External Transfers may be initiated immediately or scheduled for initiation at a future date. The recurring transfer feature may be used when a set amount is transferred at regular intervals. For example, you may schedule a $100 transfer from an account you own at another financial institution to your Premier Bank checking account every two weeks. An inbound transfer moves funds into an account at Premier Bank from an account outside the Bank. An outbound transfer moves funds from an account at Premier Bank to an account outside the Bank. International transfers are not supported.