Common use of Wire Transfers of Funds and ACH Transactions Clause in Contracts

Wire Transfers of Funds and ACH Transactions. 1. Governing Laws and Rules. From time to time, your account may be debited or credited for a wire transfer of funds that you send or receive, or through an ACH debit or credit entry. An example of an ACH credit is a direct deposit of your payroll or a government benefit that is deposited directly to your account. An example of an ACH debit is a transaction in which you have given your insurance company or health club the right to automatically withdraw your monthly payment from your account. Sometimes, a merchant from whom you purchase goods or to whom you send a check may convert your check to an ACH debit. These are only some examples of ACH transactions and are not exclusive. If you have signed a separate agreement with us that allows you to originate ACH or wire transfer transactions, the transactions will be subject to the terms of that agreement. If you have not signed such an agreement and you request a wire transfer of funds at a branch or over the telephone and we agree to undertake the funds transfer, the transfer is subject to the terms and conditions of our Funds Transfer and Payment Order (Wire) Authorization. Wire transfer transactions are also subject to the laws, regulations or rules governing the use of any system through which the funds may be transmitted including, but not limited to, Article 4A of the Uniform Commercial Code and Federal Reserve Board Regulation J with regard to Fedwire, and for international wire transfers, the rules of the Clearing House Interbank Payment Systems (“CHIPS”) and the Society for Worldwide Interbank Financial Telecommunications (“SWIFT”). If your account is held primarily for personal, family or household purposes and a portion of the funds transfer is governed by the Electronic Fund Transfers Act, that portion will be subject to the terms of the Bank’s Electronic Fund Transfer Act Disclosures, which are included in this Agreement. Transactions through the Automated Clearing House (ACH transactions) are governed by the National Automated Clearing House Association (“NACHA”) Operating Rules and any local ACH operating rules.

Wire Transfers of Funds and ACH Transactions. 1. Governing Laws and Rules. From time to time, your account may be debited or credited for a wire transfer of funds that you send or receive, or through an ACH Automated Clearing House (ACH) debit or credit entry. An example of an ACH credit is a direct deposit of your payroll or a government benefit that is deposited directly to your account. An example of an ACH debit is a transaction in which you have given your insurance company or health club the right to automatically withdraw your monthly payment from your account. Sometimes, a merchant from whom you purchase goods or to whom you send a check in payment on your account with the merchant may convert your check to an ACH debit. These are only some examples of ACH transactions debit transactions, and are not exclusive. If you have signed a separate agreement with us that allows you to originate ACH or wire transfer transfers of funds transactions, the transactions will be subject to the terms of that agreement. If you have not signed such an agreement and you request a wire transfer of funds transaction at a branch in-person or over the telephone and we agree to undertake the funds transfer, the transfer is subject to the terms and conditions of our Funds Transfer and Payment Order (Wire) Authorization. Wire transfer transactions are also subject to the laws, regulations or rules then in effect governing the use of any system through which the funds may be transmitted including, but not limited to, Article 4A of the Uniform Commercial Code and Federal Reserve Board Regulation J with regard to Fedwire, and for international wire transfers, the rules of the Clearing House Interbank Payment Systems (“CHIPS”) and the Society for Worldwide Interbank Financial Telecommunications (“SWIFT”). If your account is held primarily for personal, family or household purposes and a portion of the funds transfer is governed by the Electronic Fund Transfers Transfer Act, that portion will be subject to the terms of the Bank’s Electronic Fund Transfer Act Disclosures, which are included in this Agreement. Transactions through the Automated Clearing House (ACH transactionsACH) are governed by the National Automated Clearing House Association (“NACHA”) Operating Rules and any local ACH operating rulesrules then in effect.

Wire Transfers of Funds and ACH Transactions. 1. Governing Laws and Rules. From time to time, your account may be debited or credited for a wire transfer of funds that you send or receive, or through an ACH Automated Clearing House (ACH) debit or credit entry. An example of an ACH credit is a direct deposit of your payroll or a government benefit benefit that is deposited directly to your account. An example of an ACH debit is a transaction in which you have given your insurance company or health club the right to automatically withdraw your monthly payment from your account. Sometimes, a merchant from whom you purchase goods or to whom you send a check in payment on your account with the merchant may convert your check to an ACH debit. These are only some examples of ACH transactions debit transactions, and are not exclusive. If you have signed a separate agreement with us that allows you to originate ACH or wire transfer transfers of funds transactions, the transactions will be subject to the terms of that agreement. If you have not signed such an agreement and you request a wire transfer of funds transaction at a branch in-person or over the telephone and we agree to undertake the funds transfer, the transfer is subject to the terms and conditions of our Funds Transfer and Payment Order (Wire) Authorization. Wire transfer transactions are also subject to the laws, regulations or rules then in effect governing the use of any system through which the funds may be transmitted including, but not limited to, Article 4A of the Uniform Commercial Code and Federal Reserve Board Regulation J with regard to Fedwire, and for international wire transfers, the rules of the Clearing House Interbank Payment Systems (“CHIPS”) and the Society for Worldwide Interbank Financial Telecommunications (“SWIFT”). If your account is held primarily for personal, family or household purposes and a portion of the funds transfer is governed by the Electronic Fund Transfers Transfer Act, that portion will be subject to the terms of the Bank’s Electronic Fund Transfer Act Disclosures, which are included in this Agreement. Transactions through the Automated Clearing House (ACH transactionsACH) are governed by the National Automated Clearing House Association (“NACHA”) Operating Rules and any local ACH operating rulesrules then in effect.