Wire Transfer Procedures Clause Samples
Wire Transfer Procedures. Bank is hereby authorized to honor, execute and accept each and every Wire Transfer received by it in the name of Customer as sender and initiated by an Administrator or User via EBIB. If Bank elects to accept a Wire Transfer issued by Customer, Bank shall use reasonable efforts to comply with the Wire Transfer in paying the proceeds to the beneficiary, if Bank is also the beneficiary’s bank, or in executing the Wire Transfer if Bank is not also the beneficiary’s bank. Customer shall issue the Wire Transfer to Bank in a timely manner sufficient to allow Bank to ensure that payment is made to the beneficiary on the payment date. Bank shall be entitled to deem any person having knowledge of any Security Procedures required in order to initiate Wire Transfers under this Booklet to be a User. Bank may, in all cases, rely on and accept Wire Transfers issued on behalf of Customer by any individual(s) authorized by Customer to sign checks on any of Customer’s depository accounts with Bank.
Wire Transfer Procedures. (a) The Borrower acknowledges that the Agent has made available to the Borrower Wire Transfer Procedures a copy of which is attached to this Agreement as EXHIBIT I and which include a description of security procedures regarding funds transfers executed by the Agent or an Affiliate bank at the request of the Borrower (the "Security Procedures"
Wire Transfer Procedures. Wire transfers to and from the Bank Accounts are subject to the provisions of Section 4A of the Uniform Commercial Code, and you must follow procedures established from time to time by the Bank. We may decline to accept or process a wire transfer that is not consistent with these procedures. We are not responsible for wire transfers that do not follow these procedures, or for the actions or omissions of third-party financial institutions or by you in connection with wire transfers. Cutoff Hours. The cutoff hour applicable to domestic wire transfers requests is 2:30 p.m., Central Standard Time on any business day. A request is considered executed when the Bank executes it. If a request is received after the cutoff hour or on a day that is not a business day, the Bank will automatically process the request the following business day, subject to the terms of this service description Withdrawal Limit. You may withdraw from a Bank Account up to five hundred thousand dollars ($500,000) per day, subject to available funds, if you provide less than one business days’ notice to the bank. Higher limits shall be accepted subject to Bank’s discretion and prior approval. There is no withdrawal limit, subject to available funds, if you provide one or more business days’ notice to the Bank. Availability of Funds