Notice of Funds Transfer definition

Notice of Funds Transfer. We notify you that we have received funds transfers by listing them on your account statement. We provide statements to you by mail or through Online Banking if you selected paperless delivery through Online Banking for your deposit account documents. If you use one of our information reporting services, you may receive notice through that service. We are not obligated to send you a separate notice of each incoming funds transfer. While we generally do not provide such separate notices, we may do so on occasion, in which case we send the notice within two business days after we credit your account. We are not obligated to pay you interest for the period before you receive notice. If you are expecting a funds transfer and want to find out if it has been credited to your account, call us at the number for customer service on your statement or use Online Banking to check your account.
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Notice of Funds Transfer. We notify you that we have received funds transfers by listing them on your account statement. Under the Operating Rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next-day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statement we provide to you. We send statements by mail or in the format you have agreed to. If you use Phone*Link, or another information reporting service, you may receive notice through that service. If you are expecting a funds transfer and want to find out if it has been credited to your account, call us during normal business hours, or you can obtain this information by accessing Phone*Link or online banking. We are not obligated to pay you dividends for the period before your account has been credited. ACH Provisional Payment Rule Under ACH rules, funds transfers sent through ACH are provisional and may be revoked prior to final settlement. You agree to these rules. If the funds transfer is revoked before final settlement and we credit your account for a provisional funds transfer but do not receive final settlement, we may charge your account for the amount credited. The person who sent the payment order is considered not to have paid you. If this happens, we do not send a separate notice; we notify you of these credits and any applicable fees on your account statement.
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Examples of Notice of Funds Transfer in a sentence

  • Notice of Funds Transfer We notify you that we have received funds transfers by listing them on your account statement.

  • The last date on which a district may submit a Notice of Funds Transfer is March 31 of the fiscal year.

  • No indirect costs should be budgeted in Title IV-A.6. No Child Left Behind Notice of Funds Transfer will be generated in the ACSIP software.

Related to Notice of Funds Transfer

  • Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

  • Notice of Conversion or Continuation shall have the meaning provided in Section 2.6(a).

  • Electronic Funds Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.

  • Notice of Continuation/Conversion has the meaning specified in Section 2.2(b).

  • Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.

  • Form of Notice of Conversion means the “Form of Notice of Conversion” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A.

  • Notice of Conversion/Continuation has the meaning assigned thereto in Section 5.2.

  • Notice of Borrowing has the meaning specified in Section 2.02(a).

  • Request for Tender means the Request for Tender given to prospective tenderers inviting offers to tender for the supply of the Goods and Services of which these General Conditions of Contract form part.

  • Funds-transfer system means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.