Common use of Transfers; Transfer Limitations Clause in Contracts

Transfers; Transfer Limitations. You can only transfer money to and from a Vault through your primary deposit account. You cannot otherwise spend, withdraw, transfer, or access money in a Vault, and you cannot directly transfer money between Vaults. When you want to access money in a Vault, you must first transfer the money to your primary deposit account. Transfers between your primary deposit account and a Vault can be conducted only through the Mobile App; we do not accept transfer instructions over the phone or by any other means. Once you instruct us to transfer money from your primary deposit account to a Vault, that money will be unavailable for you to otherwise spend, withdraw, transfer, or access from your primary deposit account. Although, the Available Balance of your Account does not include money in your Vaults, the money in your Vaults is counted for purposes of the maximum Account balance limit in Section 6 titled “Limits on Your Account”. For security reasons, we may impose limits on the numbers of transfers between your primary deposit account and your Vaults in our sole discretion. Notwithstanding anything to the contrary in this Agreement, for all funds in a Vault, we reserve the right at any time to require at least seven days’ written notice of an intended transfer to your primary deposit account.

Appears in 4 contracts

Samples: Cayisbank Deposit Account Agreement, Go2bank Deposit Account Agreement, Go2bank Deposit Account Agreement

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