Common use of Transfers and Payments Clause in Contracts

Transfers and Payments. We may from time to time, limit the number of, the type, and dollar amounts of any checks, drafts, withdrawals, or transfers made by use of our Online Banking service, notwithstanding the amount in your accounts. Limits on the number of transactions that may be performed on your Institution savings or money market accounts are described in the applicable account agreement for such accounts. If a hold has been placed on deposits made to an account from which you wish to transfer funds, you cannot transfer the portion of the funds held until the hold is removed. We may, at our discretion, allow your transfers to be paid and create an overdraft on the account. You agree to immediately reimburse us for the amount of the overdraft, and to pay any overdraft charges that may apply to your account, as set forth in your account agreement and associated disclosures. You authorize Institution to withdraw, debit or charge the necessary funds from your designated Institution account on the date on which you schedule any payment to begin processing or submit a transfer request. You agree that you will instruct us to make a withdrawal only when a sufficient balance is or will be available in your account(s) at the time of the withdrawal. For payments made using the Xxxx Payment service, it is necessary that collected funds be in your account no later than the business day before your Payment Date due to the electronic processing of payments.

Transfers and Payments. We may from time to time, limit the number of, the type, and dollar amounts of any checks, drafts, withdrawals, or transfers made by use of our Online Banking service, notwithstanding the amount in your accounts. Limits on the number of transactions that may be performed on your Institution savings or money market accounts are described in the applicable account agreement for such accounts. If a hold has been placed on deposits made to an account from which you wish to transfer funds, you cannot transfer the portion of the funds held until the hold is removed. We may, at our discretion, allow your transfers to be paid and create an overdraft on the account. You agree to immediately reimburse us for the amount of the overdraft, and to pay any overdraft charges that may apply to your account, as set forth in your account agreement and associated disclosures. You authorize Institution to withdraw, debit or charge the necessary funds from your designated Institution account on the date on which you schedule any payment to begin processing or submit a transfer request. You agree that you will instruct us to make a withdrawal only when a sufficient balance is or will be available in your account(s) at the time of the withdrawal. For payments made using the Xxxx Bill Payment service, it is necessary that collected funds be in your account no later than the business day before your Payment Date due to the electronic processing of payments.