Common use of WIRE AND ACH TRANSACTIONS Clause in Contracts

WIRE AND ACH TRANSACTIONS. Provisional Payment. Any credit we give you with respect to an automated clearinghouse or wire transfer entry is provisional until we receive final settlement for the entry. If we do not receive final settlement, you understand and agree that we may charge your account for the amount, and that the party making payment to you (i.e., the originator of the transfer) shall not be deemed to have paid you the amount of the transfer. Notice of Receipt. We will notify you of the receipt of payments in the periodic account statements we provide to you. You acknowledge that we will not give next day notice to you of receipt of an ACH or wire transfer item. You may call us at the telephone number listed at the bottom of this page to find out whether or not a credit has been made. WITHDRAWAL RULES