Approve for Release ACH Batches and Approve Wire Transfers Clause Samples

The "Approve for Release ACH Batches and Approve Wire Transfers" clause designates the authority and process for authorizing the release of Automated Clearing House (ACH) payment batches and the approval of wire transfers. Typically, this clause outlines which individuals or roles within an organization are permitted to review and approve these types of electronic funds transfers, often requiring dual control or specific authorization thresholds. By clearly defining approval responsibilities, the clause helps prevent unauthorized transactions and ensures that all outgoing payments are properly vetted, thereby reducing the risk of fraud and financial errors.
Approve for Release ACH Batches and Approve Wire Transfers. If Member is enrolled in Navigant’s ACH Origination and/or Wire Transfer Service, Member may approve for release previously established, balanced ACH batches or files, and approve previously-established wire transfer requests or files via Mobile Banking. As an additional security procedure, Member will be required to utilize a Token for each ACH batch / file or wire transfer request / file approved for release via Mobile Banking.
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