Transfers Outside of Avidia Bank Sample Clauses

Transfers Outside of Avidia Bank. If you have a consumer account and you have selected Account View and Transfer or Account View and Transfer With Bill Payment, you may originate the electronic transfer of funds into your account at Avidia Bank from an account in your name at a financial institution outside of Avidia Bank and you may originate the electronic transfer of funds from your account at Avidia Bank to an account in your name at a financial institution outside of Avidia Bank (both called “External Transfers”). When you originate External Transfers, you authorize Avidia Bank and our service provider, FIS, to initiate debit and credit entries, upon your instructions, to your Avidia Bank account and your account at the financial institution(s) outside of Avidia Bank that you designate, using the Automated Clearing House (ACH) or other payment transfer method. You agree and warrant to us that you will only originate External Transfers to or from accounts for which you have the authority to transfer funds, and that by disclosing information to us regarding those accounts to affect your transfers, you are not violating any third party rights. Not all types of accounts may be eligible for External Transfers, so you should check with the institution for any restrictions on transfers. Before you originate an External Transfer, you may be asked to complete a test transaction. If the test transaction fails or is rejected, for security purposes we may decline your External Transfer request(s) and any or all other transactions, and we may close your account, with or without notice to you. External Transfers may be originated on a single entry or recurring basis. One time transfers may be scheduled immediately or scheduled for a future date. A recurring transfer allows you to transfer a set amount at regular intervals. Your authorization for any recurring External Transfers will remain in full force and effect until you revoke it in such timely manner as to afford Avidia Bank a reasonable opportunity to act on your direction. The external funds transfer feature will process requests for transfers on business days. Our business days are Monday through Friday. External transfers created after 7 PM EST are considered to occur on the next business day. Holidays and Bank Holidays are not included. One time External Transfers cannot be scheduled to occur on a non-business day. Recurring External Transfers scheduled to occur on a non-business day will be processed on the next business day. Limitations...
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