Outgoing Wire Transfer Terms and Conditions (Consumer only)
The wire transfer originator (“Customer”) is required to be an authorized signer or account holder on a Bank of Bird-in-Hand (“the Bank”) customer account from which the wire transfer is disbursed. The customer seeks to conduct wire transfers on an “as needed” basis and Bank of Bird-in-Hand (“the Bank”), agrees to provide such services. The Customer and the Bank hereby agree as follows:
- Funds Available for Wire Transfers: Only funds currently available in the accounts indicated on the day of the request may be utilized for Wire Transfers. Wire transfer requests for which there are insufficient available funds will not be processed;
- Fees: A fee, as stipulated in the Bank’s Fee Schedule, and revised from time-to-time, will be charged for all wire transfers. It is further understood, that the Bank’s waiver of any fees for any particular wire processed at any particular time does not constitute a waiver of any subsequent fees;
- Account Debit Authorization: Customer authorizes the Bank to debit the account(s) noted on the Wire Transfer Request form in the amount of the wire(s) and the associated fee(s), for the purpose of completing the requested wire transfer(s). The Customer agrees that he/she will be responsible for, and indemnify the Bank against any claims associated with any and all wire transfers and fees for wires conducted by those to whom the Customer has granted authorization to conduct such transfers from authorized accounts.
- Cutoff Times: Domestic wire requests received prior to 3:00 pm Eastern time each business day will be processed on the business day of receipt. International wire requests received prior to 2:00 pm Eastern time each day will be processed on the business day of receipt. All wire requests received after the noted cutoff times will be processed on the next business day.
- Wire Requests: All wire requests must be in person and will be accepted in our branch only. Wire requests cannot be accepted via phone, fax, or email.6. Information for Wires: All wire requests should include:
- Information for Wires: All wire requests should include:
- a. The originator’s name, and the title of the account that is to be debited;
- b. The originator’s account number (The number of the account that is to be debited);
- c. The originator’s address (The address associated with the account that is to be debited);
- d. The amount of the wire;
- e. The date that the wire is to be processed;
- f. The beneficiary’s Name;
- g. The beneficiary’s physical address
- h. The beneficiary’s account number;
- i. The beneficiary’s Bank name and routing number.
For International Wires, the Bank also requires:
- a. The physical address of the Beneficiary’s Bank;
- b. The SWIFT Code for the Beneficiary’s Bank;
- c. The purpose of the funds transfer.
- d. IBAN (International Bank Account Number)
- Callbacks: The Bank, at its discretion, may call back the customer to verify the validity/accuracy of a wire transfer request.
- Delays in Processing: The Customer releases the Bank and its agents from any liability for any and all loss or damage arising by reason of errors or delays in the execution of a wire due to any and all causes that are beyond the control of the Bank.
- Returned Wires: The Customer agrees that if the requested wire is returned for any reason, he/she will accept as repayment in full, the dollar amount of the wire, less appropriate fees. If an International Wire that is expressed in foreign currency be returned for any reason, the Customer agrees that the Bank will return the funds at the prevailing rate of exchange at the time of refund, less any associated fees.
- Rejection of Funds Transfer Instructions: Bank may at its sole discretion reject any funds transfer instruction which (a) exceeds the available funds on deposit in Customer’s designated accounts; (b) is not authenticated to the Bank’s satisfaction or which Bank believes may not be authorized by Customer; (c) contains incorrect, inconsistent, ambiguous, or missing information; (d) involves funds which are subject to a lien, security interest, claim, hold, dispute, or legal process prohibiting withdrawal. Bank shall incur no liability to Customer for any loss occasioned by Bank’s refusal, with or without notice to Customer, to honor any funds transfer instruction.
- Severability: Should any of the foregoing paragraphs become invalidated for any reason; the paragraph(s) in question will be excised from the Terms and Conditions, and the remaining paragraphs within these Terms and Conditions shall remain in effect.
- Governing Law: The foregoing wire Terms and Conditions are incorporated by reference into the Bank’s Account Disclosure information, and is subject to Federal laws as well as the laws of the Commonwealth of Pennsylvania.
- Amendment: These Terms and Conditions may be amended by the Bank from time to time, which will become effective immediately upon your receipt of notification or upon a later date specified in such notification. No representation or statement not expressly contained in these Terms and Conditions or in any amendment shall be binding upon you or the Bank.
- Exclusions from Regulation E: Please note that, because we utilize commercial wire systems to send these types of Remittance Transfers, they are not classified as “electronic fund transfers” under Regulation E, and accordingly, the additional consumer disclosures set forth in your Account Agreement under the heading of “Electronic Fund Transfers” do not apply. Please note also that domestic wires within the U.S. (both outgoing and incoming) and international wires into your U.S. accounts are not subject to the Regulation E remittance transfer rules, and further, they are not subject to the “Electronic Fund Transfer” disclosures.