Common use of Transfer Authorization and Processing Clause in Contracts

Transfer Authorization and Processing. The Service enables you to transfer funds between your Account(s) with us and your Account(s) at other financial institutions. You may schedule a one-time transfer or a series of recurring transfers. You must be an owner of the Transaction Account and the Recipient Account and have all necessary legal right, power and authority to transfer funds from the Transaction Account to the Recipient Account. When we receive a Transfer Instruction from you, you authorize us to debit your Transaction Account and remit funds on your behalf to the Recipient Account designated by you on the date selected by you. You also authorize us to reverse a transfer from your Recipient Account if the debit is returned from the Transaction Account for any reason, including but not limited to nonsufficient funds.

Transfer Authorization and Processing. The Service enables you to transfer funds between your Accounts that you maintain with us and also between your Account(s) with us and your Account(s) at other financial institutions. You may schedule a one-time transfer or a series of recurring transfers. You must be an owner of the Transaction Account and the Recipient Account and have all necessary legal right, power and authority to transfer funds from the Transaction Account to the Recipient Account. When we receive a Transfer Instruction from you, you authorize us to debit your Transaction Account and remit funds on your behalf to the Recipient Account designated by you on the date selected by you. You also authorize us to reverse a transfer from your Recipient Account if the debit is returned from the Transaction Account for any reason, including but not limited to nonsufficient funds.

Transfer Authorization and Processing. The Service enables you to transfer funds between your Account(s) with us and your Account(s) at other financial institutions. You may schedule a one-time transfer or a series of recurring transfers. You must be an owner of the Transaction Account and the andthe Recipient Account and have all necessary legal right, power and authority to transfer funds from the Transaction Account to the Recipient Account. When we receive a Transfer Instruction from you, you authorize us to debit your Transaction Account and remit funds on your behalf to the Recipient Account designated by you on the date selected by you. You also authorize us to reverse a transfer from your Recipient Account if the debit is returned from the Transaction Account for any reason, including but not limited to nonsufficient funds.