Common use of Sending Funds Clause in Contracts

Sending Funds. You can send funds to a recipient in any amount from $1 to $500 by: (i) entering the recipient’s email address so that we can send the recipient an email notifying them that you are sending them funds, or (ii) entering the recipient’s mobile phone number so that we can send the recipient a text message notifying them that you are sending them funds. Carrier message and data rates apply to all text messages. We are not responsible for any loss of funds if you provide an incorrect email address or mobile phone number and the recipient completes the transfer. We will debit the funds for the transfer from your primary deposit account at the time you submit a transfer. In order to receive their money and complete the transfer, the recipient of the pending transfer will need to transfer the money to his or her eligible prepaid debit card or account, each issued by the Bank. We may, in our sole discretion, offer the recipient other ways to receive the pending transfer. You may only send up to $500 per day and $1,000 in any 30-day period using the Person- to-Person Transfer Service with your primary deposit account or any other account you have with the Bank. In addition, you may only make 20 transfers every 24 hours using the Person-to-Person Transfer Service with your primary deposit account or any other account you have with the Bank, and each recipient may only receive up to five transfers every 24 hours via the Person-to-Person Transfer Service. You agree not to impersonate another person or send any messages that are fraudulent or offensive. If the recipient fails to claim the transfer within 10 days of receiving notice of the transfer, or if the transfer cannot be made for any other reason, we will notify you and return the funds to your primary deposit account.