DISCLOSURES

Funds Transfer

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ACH Disclosure

 

Automated Clearing House Disclosure


A. PROVISIONAL PAYMENT DISCLOSURE:  Credit given by us to you with respect to an Automated Clearing House credit entry is provisional until we receive final settlement for such entry through a federal reserve bank.  If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry i.e. the originator of the entry shall not be deemed to have paid you in the amount of such entry.


B. NOTICE DISCLOSURE: 
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 statements we provide to you.


C. CHOICE OF LAW DISCLOSURE:  We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses ACH and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payment shall be construed in accordance with and governed by the laws of the state of New York as provided by the operating rules of the National Automated Clearing House Associations, which are applicable to ACH transactions involving your account.

 

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