Common use of Funds Transfer Clause in Contracts

Funds Transfer. We can process a Funds Transfer between Spring Bank Accounts on the same Business Day as Your instructions, if We receive Your instructions before Our Online Banking cut-off time stated on the screen labeled "Transfers". If We receive Your instruction after the cut-off time, We will process the transaction on Our next Business Day. Loan payments will comply with the terms and agreements previously agreed to in the Note and Loan Agreement. We reserve the right to limit the number of withdrawals / transfers from or debits to your Money Market, and Savings Account. We limit preauthorized, check, electronic (such as online banking and mobile banking) or telephone withdrawals / transfers from Money Market, and Savings Accounts to six per month or statement cycle. The Bank will charge you an excessive withdrawal fee (Service Charge), as defined in the Service Fee Summary for Personal Accounts, if account activity exceeds six withdrawals / transfers per month or statement cycle from your account to another account or to a third party by preauthorized, check, electronic, or telephone transfer. Customer authorizes Us to withdraw the necessary funds from Your Account with Us to process the funds transfer transaction. Any funds transfer shall be in an amount not to exceed any limit established by Spring Bank from time to time. Uncollected funds may be accessed for funds transfer and check clearing, subject to applicable fees as stated in the Service Fee Summary for Personal Accounts. Customer assumes responsibility for verifying availability of funds at the time of the funds transfer order. If Account is overdrawn, Xxxxxxxx agrees to immediately pay Us the overdrawn amount together with any applicable fees as stated in the Service Fee Summary for Personal Accounts.

Funds Transfer. We can process a Funds Transfer between Spring Bank Accounts on the same Business Day as Your instructions, if We receive Your instructions before Our Online Banking cut-off time stated on the screen screens labeled "Transfers". If We receive Your instruction after the cut-off time, We will process the transaction on Our next Business Day. Loan payments will comply with the terms and agreements previously agreed to in the Note and Loan Agreement. We reserve the right to limit the number of withdrawals / transfers from or debits to your Money Market, and Savings Account. We limit preauthorized, check, electronic (such as online banking and mobile banking) or telephone withdrawals / transfers from Money Market, and Savings Accounts to six per month or statement cycle. The Bank will charge you an excessive withdrawal fee (Service Charge), as defined in the Service Fee Summary for Personal Business Accounts, if account activity exceeds six withdrawals / transfers per month or statement cycle from your account to another account or to a third party by preauthorized, check, electronic, or telephone transfer. Customer authorizes Us to withdraw the necessary funds from Your Account with Us to process the funds transfer transaction. Any funds transfer shall be in an amount not to exceed any limit established by Spring Bank from time to time. Uncollected funds may be accessed for funds transfer and check clearing, subject to applicable fees as stated in the Service Fee Summary for Personal Business Accounts. Customer assumes responsibility for verifying availability of funds at the time of the funds transfer order. If Account is overdrawn, Xxxxxxxx agrees to immediately pay Us the overdrawn amount together with any applicable fees as stated in the Service Fee Summary for Personal Business Accounts. If the Account is maintained in connection with a Sweep Agreement with a Spring Bank Line of Credit, any overdraft will be made in accordance with the agreement or rules governing that Sweep Agreement rather than this Agreement.

Funds Transfer. We can process a Funds Transfer between Spring Bank Accounts on the same Business Day as Your instructions, if We receive Your instructions before Our Online Banking cut-off time stated on the screen screens labeled "Transfers". If We receive Your instruction after the cut-off time, We will process the transaction on Our next Business Day. Loan payments will comply with the terms and agreements previously agreed to in the Note and Loan Agreement. We reserve the right to limit the number of withdrawals / transfers from or debits to your Money Market, and Savings Account. We limit preauthorized, check, electronic (such as online banking and mobile banking) or telephone withdrawals / transfers from Money Market, and Savings Accounts to six per month or statement cycle. The Bank will charge you an excessive withdrawal fee (Service Charge), as defined in the Service Fee Summary for Personal Business Accounts, if account activity exceeds six withdrawals / transfers per month or statement cycle from your account to another account or to a third party by preauthorized, check, electronic, or telephone transfer. Customer authorizes Us to withdraw the necessary funds from Your Account with Us to process the funds transfer transaction. Any funds transfer shall be in an amount not to exceed any limit established by Spring Bank from time to time. Uncollected funds may be accessed for funds transfer and check clearing, subject to applicable fees as stated in the Service Fee Summary for Personal Business Accounts. Customer assumes responsibility for verifying availability of funds at the time of the funds transfer order. If Account is overdrawn, Xxxxxxxx Customer agrees to immediately pay Us the overdrawn amount together with any applicable fees as stated in the Service Fee Summary for Personal Business Accounts. If the Account is maintained in connection with a Sweep Agreement with a Spring Bank Line of Credit, any overdraft will be made in accordance with the agreement or rules governing that Sweep Agreement rather than this Agreement.