Common use of Recurring Transfers Clause in Contracts

Recurring Transfers. If Customer designates an Internal Transfer as a recurring transfer, Customer may request, and Bank will use, a Scheduled Transfer Date that re-occurs on a specified regular basis (e.g., weekly, bi-weekly, semi-monthly, monthly, etc.). In conjunction with each Internal Transfer, Customer may designate an “end” date. Customer must have sufficient Available Funds before the established funds transfer cut-off time on the Scheduled Transfer Date as described below. Recurring transfers may be cancelled up to the established funds transfer cut-off time in advance of the Scheduled Transfer Date.