Common use of Transfers to Other Accounts Clause in Contracts

Transfers to Other Accounts. We may impose limits on the number or dollar value of transfers that may be processed from your Accounts to those of others. When transfers are directed to Accounts outside of Libro, we have no responsibility for issues resulting from delayed, corrupted, incomplete, or compromised transfers that happen after the transfer transactions leave our systems. Bill Payments We forward any bill payment transactions to the merchants specified by you, for credit the next or second business day following the day you authorize the payments (Saturdays, Sundays, statutory holidays and other Libro appointed closures are not considered business days). We will not be responsible for delayed credit or late payments for reasons beyond our control. It is your responsibility to ensure bill payments are completed in sufficient time to reach the merchant. Prior to processing, you will be prompted with full transaction details. After you have confirmed and authorized the transaction, it cannot be reversed. You will need to contact the merchant directly. If there are insufficient funds available in your Account or line of credit during a current or live session, you will be advised that the transaction has failed, the bill payment did not process and notification was not sent, and you will then remain responsible for bill payment(s) using other channels. You are responsible for ensuring there are sufficient funds or credit to pay future dated bill payments. We will not be able to notify you of insufficient funds on that future date. You assume responsibility for resulting missed payments and missed and late payment charges including penalties or interest imposed by the merchant. You are responsible for entering and authorizing the correct payment amounts, merchant Account identification, the Account to be charged and to ensure each payment is entered and authorized only once. Foreign Currency Transactions If you use your Card in a foreign currency transaction, the electronic network handling the transaction will set the Canadian currency conversion rate. This rate will be used to calculate the Canadian dollar equivalent of the transaction amount and such equivalent amount will be charged to your Account.