- The titles and signers of both preauthorized accounts involved in a transfer must be the same. However, the Bank may, at a customer’s direction, accept an authorization when the owner of an individual account is also a signer on a joint account.
- The Bank shall have no responsibility to verify the identity of a person using a valid access code to transfer funds.
- The account owner(s) agree(s) to indemnify and hold the Bank harmless against any claims, demands, costs or expenses resulting from or arising out of any unlawful or unauthorized requests for funds transfer or in failing or refusing to make any requested transfers.
- Transfer requests will be accepted at any time provided all systems are operational. The transfer will be posted on a business day during regular processing hours. Transfers made after normal business hours may be posted the next business day.
- The Bank may discontinue this service at any time.
- The account owner(s) agree(s) to notify the Bank immediately if they become aware that an unauthorized individual has knowledge of the access code.
- Federal Regulations limit preauthorized, automatic, telephone and other transfers from savings and money market accounts to a total of six (6) per month per account. For money market accounts, six (6) may be checks.
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