Common use of Transfer to a Beneficiary Bank Clause in Contracts

Transfer to a Beneficiary Bank. To the extent Article 4A of the Uniform Commercial Code – Fund Transfers, as adopted by the state in which you have your Account with us, applies to any transactions through your Account, you acknowledge that, if you originate a funds transfer and you identify any name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the