Payments out of your account Sample Clauses

The 'Payments out of your account' clause defines the rules and procedures governing how funds can be withdrawn or transferred from a customer's account. It typically outlines the types of transactions permitted, such as direct debits, standing orders, or electronic transfers, and may specify any authorization requirements or limits on withdrawals. This clause ensures that both the account holder and the financial institution understand the conditions under which payments can be made, thereby reducing the risk of unauthorized transactions and providing clarity on account usage.
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Payments out of your account. You must provide us with the following details to enable us to make a payment; - The correct details of the recipient’s bank - The full and correct name/title and address of the recipient - Sort code of the recipient’s bank , if it is within the UK or national bank code outside of the UK - Recipient’s bank account number or International Bank Account Number(IBAN) - Any reference you would like to refer within the payment, if applicable - Your own account number with us, name and address- It is a legal requirement to pass this to the recipient’s bank. Please take note that it is your responsibility to provide us with correct and full details for a payment. We will not be liable if your payment is delayed or sent to the wrong beneficiary because you have not given us correct details. Your payment instruction may not be processed and declined if (i) you do not have sufficient available funds in your account (ii) the payment instruction is unclear (iii) there is a legal requirement, court order or other authority order for not processing any payment from your account (iv) we have a reason to believe that it will be illegal and fraudulent to process (v) we considered that your account has been misused. If we decline your payment instruction you may contact us and we will inform you the reason unless it is against the law to disclose any information on the matter. Regarding charges, if an additional condition is not included in your corporate account opening letter, prior to making any payment we will inform you the net charges for payments out of your account with us. 3.3.1 Payments out of your account - within the UK 3.3.2 International Payments out of your account
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Payments out of your account. 14.1 We are entitled to assume we are dealing with you, and that you have agreed to us acting on any instructions, without getting further confirmation from you: 14. 1.1 if you ask us to make a payment using your Member Security Details. We may make any relevant security checks in addition. ; and 14.1.2 otherwise in the case of Clause 14.1.1, if you have signed a document containing the payment instruction. 14.2 When you give us a payment instruction to transfer funds to a new nominated bank account, you must give us the sort code and account number, and any other details we ask you for to allow us to verify the account. 14.3 If you need to give us a payment instruction which you consider of high value or it is particularly important to you that the payment is not missed, you should contact us by phone. 14.4 We will not be liable if your payment is delayed or sent to the wrong person because you gave us the wrong details. If a payment does go to the wrong person because you gave us the wrong details, we will use reasonable efforts to recover the payment and, if we manage to do so, we may charge you our reasonable costs. 14.5 You will not be able to give a payment instruction using your Member Security Details if we have stopped, or suspended, your ability to use them. 14.6 We may refuse to carry out a payment instruction, or other transaction on your account, if: 14.6.1 you do not have available funds to make the payment; and 14.6.2 the payment instruction is not clear or you have not provided us with the correct details. 14.7 Payments out of your account must be made to your nominated bank account.
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Payments out of your account within the UK
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Payments out of your account. 7.3.1 You can give payment instructions to us in accordance with the Account Opening Instructions. If you ask us to make a payment it is your responsibility to make sure that the details that you give to us are correct. We will rely upon the instruction that you give to us. Errors in the information may delay the payment or result in the loss of the payment. 7.3.2 We can transfer funds on the day of instruction provided that it is a Working Day and we receive your instruction before the Cut-off Time for the relevant currency on the Working Day (see Appendix 3 (Payment Timing Information). If we receive your instruction after the Cut-off Time on a Working Day we will act on your instruction on the next Working Day. You may not draw against funds that are not available unless we have given our prior agreement.
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Payments out of your account. ‌ 3.1. You can withdraw cash from your accounts up to such daily (or other periodic) limits as we may specify to you from time to time. 3.2. You can also make payments from your accounts to another account. You can instruct us to make a payment from your accounts by means of: 3.2.1. Paper Payment Orders in prescribed forms made available by the Bank, duly completed and signed in accordance with the account signature mandate and either handed to us in branch or sent to us by post; or 3.2.2. Electronic forms made available by the Bank, signed in accordance with the account signature mandate and sent to us by fax or by e-mail. 3.3. If the payment is in sterling to another UK sterling account we will require the payee’s name, account sort code and account number. For euro payments within a SEPA country, we will require the payee’s IBAN and BIC. For other international payments we may require the payee's IBAN and BIC number. 3.4. The cut-off time for payments is 1pm on a Business Day. Payment instructions we receive after this cut-off time will be deemed to have been received on the next Business Day. Instruction sent to us by fax, email or post will be deemed received once they have been verbally confirmed by telephone with you, or with any one accountholder in case of a joint account, or with a third party authorised to operate the account . Payment instructions completed in person at the Bank will be deemed received at the time they are signed in our presence. 3.5. Subject to the cut-off time, all payment instructions whether sent to us by fax, email, post or completed in the bank, should reach the recipient’s bank by: (a) For payments in sterling in the UK or in euro within the EEA, by the end of the Business Day (or where initiated by a Paper Payment Order, the second Business Day) after the Business Day of instruction; (b) All other payments, by the end of the fourth Business Day after the Business Day of instruction, though it may be longer depending on the country to which it is being sent. 3.6. You may instruct us to make a payment on a future date (that is Business Day). 3.7. You cannot cancel payment instructions unless they are by standing order, Direct Debit or future dated (in which cases you may cancel them by notifying us at least one Business Day before they are due to be made). 3.8. We may refuse to act on a payment instruction if (or if we reasonably believe that): 3.8.1. There are insufficient funds in the relevant account; 3.8.2. You have n...
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