Common use of The Bank’s Liability for Failure to Make Transfers Clause in Contracts

The Bank’s Liability for Failure to Make Transfers. If we do not complete a transfer to or from your account in time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: ▪ If through no fault of ours, you do not have enough money in your account to make the transfer; ▪ If the transfer would go over the credit limit on your overdraft line; ▪ If the terminal does not have enough cash to enable you to make a withdrawal; ▪ If the terminal or system was not working properly and you knew about the breakdown when you started the transfer; ▪ If circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions that we may have taken; or ▪ If the funds are subject to legal process or other encumbrance restricting such transfer. There may be other instances set forth by law or by an agreement with you in which we may not be liable. Preauthorized Payments: Your authorization of certain EFTs from your account will, except as otherwise provided in our Agreement, effectively eliminate your ability to stop payment of the authorized transfer.

The Bank’s Liability for Failure to Make Transfers. If we do not complete a transfer to or from your account in time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: ▪  If through no fault of ours, you do not have enough money in your account to make the transfer; ▪  If the transfer would go over the credit limit on your overdraft line; ▪  If the terminal does not have enough cash to enable you to make a withdrawal; ▪  If the terminal or system was not working properly and you knew about the breakdown when you started the transfer; ▪  If circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions that we may have taken; or ▪  If the funds are subject to legal process or other encumbrance restricting such transfer. There may be other instances set forth by law or by an agreement with you in which we may not be liable. Preauthorized Payments: Your authorization of certain EFTs from your account will, except as otherwise provided in our Agreement, effectively eliminate your ability to stop payment of the authorized transfer.

The Bank’s Liability for Failure to Make Transfers. If we do not complete a transfer to or from your account in time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: ▪  If through no fault of ours, you do not have enough money in your account to make the transfer; ▪  If the transfer would go over the credit limit on your overdraft line; ▪  If the terminal does not have enough cash to enable you to make a withdrawal; ▪  If the terminal or system was not working properly and you knew about the breakdown when you started the transfer; ▪  If circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions that we may have taken; or ▪  If the funds are subject to legal process or other encumbrance restricting such transfer. There may be other instances set forth by law or by an agreement with you in which we may not be liable. Preauthorized Payments: Your authorization of certain EFTs from your account will, except as otherwise provided in our Agreement, effectively eliminate your ability to stop payment of the authorized transfer.