Common use of One-Time Transfers Clause in Contracts

One-Time Transfers. A one-time (non-recurring) transfer of available funds may be made any day at any time. However, funds transferred after 5:00 P.M Eastern Standard Time will not be available to cover checks charged that same day to the account receiving the funds. One time transfers to TSB installment loans, mortgage loans, Prime Right Home Equity loans, may be made from checking accounts only. Those transfers submitted by 5:00 P.M Eastern Standard Time on a Business Day will be posted to the receiving account the same Business Day that the transfer was submitted. Transfers submitted after 5:00 P.M. Eastern Standard Time or any time during a weekend or holiday will be posted to the receiving account on the next Business Day. One time transfers may be scheduled for a future date and will be processed on the scheduled transfer date if it is a Business Day. If the future date scheduled for the transfer falls on a weekend or holiday the transaction posted to the receiving account will be on the Business Day prior to the weekend or holiday. Except as provided above, a one-time transfer may be changed or cancelled up to 5:00 P.M. Eastern Standard Time on the date the recurring transfer is to take place.