You have requested to enroll in the External (InterBank) Funds Transfer Service (“Service”). This Service allows you to transfer funds between your account(s) with Executive National Bank and your account(s) at other financial institutions (non-Executive National Bank account(s)) – known as External Funds Transfers. External funds Transfers are accomplished through an automated clearing house (ACH) debit against the account that funds are being transferred from and an ACH credit to the account(s) funds are being transferred to.
Your account(s) with Executive National Bank must be open and in good standing. In order to be accessible by Executive National Bank’s Consumer e-Banking (CeB), accounts maintained at other financial institutions must be either a checking or a savings account and reflect the same ownership as the account(s) maintained at Executive National Bank. You must provide the name of the institution, the routingtransit number, as well as the account number.
To ensure security, before adding an outside account for External Transfers, originate a new External Transfer or edit an existing periodic External Transfer, you may be required to authenticate who you are using a method of authentication you select. Accounts to which credits or debits are to be processed at other financial institutions will require a set-up process through Executive National Bank’s Consumer E-Banking (CeB) system. After logging into CeB and being authenticated in accordance with industry standard authentication procedures, a small dollar transaction will be initiated to the non-Executive National Bank account for verification. If you fail to complete the account verification process for a particular External Account, you will not be able to transfer funds to or from that External Account. Further, if the test transaction fails or is rejected, for security purposes Executive National Bank may decline the External Transfer request(s) and any or all other transactions, and may close your account, with or without prior notice to account closure.
It is important to note that if the External Account that you are attempting to verify is designated by the Federal Reserve Board’s Regulation D as a “savings account”, such as an insured money market account, it is subject to the limits on the number of pre-authorized transfers allowed per month (i.e. 6 per monthly statement period), up to 3 of which may occur during the verification process.
InterBank Transfers can be scheduled, changed and deleted until 7:00 PM EST (6:00 PM CST) on the business day of the scheduled initiation date. Sufficient collected funds must to be available for outbound transactions to credit External Accounts at another financial institution. Transfers without sufficient collected funds will be cancelled and will not be processed. External Transfers scheduled to process on weekends or holidays will be rescheduled for the next processing date and a message is displayed alerting you to this change. Additionally, transfers scheduled for the 29th, 30th, or 31st of the month are interpreted as “month end” and will be processed on the last day of the month
Funds from Interbank transfers will be available for withdrawal in accordance with the funds availability policy of the institution(s) holding the account(s) that received the funds. External Transfer credits to your Executive National Bank account(s) will be available no later than the business day after we receive finally collected funds – funds are generally finally collected by the third business day after the day of your transfer. If these funds are not collected from the other financial institution then the transfer will be reversed and no funds will be credited to your Executive National Bank Account. Executive National Bank reserves the right, without prior notification, to cancel, suspend, or prohibit any External Transfer that it deems as suspect, unauthorized, fraudulent, or erroneous. More than 2 incidents of External Transfers returned by other financial institutions may result in removal of the ability to process External Transfers through CeB and in account closure. Executive National Bank will, in its sole discretion, establish daily and monthly limits based on dollar amounts and frequency. Transactions outside these limits may be declined. Unless otherwise notified limits (Credits and Debits combined) are as follows:
Per Transaction Limit: $2,000.00
Daily Maximum aggregate Limit: $2,000.00
Daily Transaction Limit: 2 External Transfer transactions (either credit or debit)
Monthly Maximum aggregate Limit: $10,000.00
Monthly Transaction Limit: 5 transactions per month.
A fee may be charged for External Transfers. Please consult our Personal Fee Schedule for applicable fees. Fees are subject to change from time-to-time upon notice as may be required by law.
You will reimburse Executive National Bank immediately upon demand for any transaction amount delivered for which your account does not contain sufficient funds. If you fail to reimburse Executive National Bank within 2 business days, you authorize and grant Executive National Bank the right of setoff to any account owned either individually or jointly by you. In addition, you will reimburse us for any costs or fees we incur in attempting to collect any amounts from you and we are authorized to report the return of a transaction to any credit reporting agency.
In addition to this Agreement, External Transfers are governed by all rules and regulations associated with your checking or savings account(s), the Executive National Bank CEB Internet/Bill Pay Agreement/Mobile Deposit Service Agreement, the National Automated Clearing House Association (“NACHA”) Rules (by which the bank and thus any transaction originated by you must abide) and the Electronic Funds Transfer Act (Regulation E). In certain situations, Executive National Bank may request that you provide additional information about transactions you originate(d) using External Transfers in order for Executive National Bank to comply with the USA Patriot Act and/or the Bank Secrecy Act. You agree to cooperate fully with any request for additional information made by Executive National Bank. You understand that your failure to fully cooperate may result in the discontinuance of your use of External Transfers and the closure of your account(s). For further information or a copy of previously provided disclosures please contact us as outlined in the “Contacting Executive National Bank” section of this agreement.
Please contact us as outlined
in the “Contacting Executive National Bank” section of this Agreement. If you believe that your statement is incorrect or you need more information about a transaction listed on your statement. Executive National Bank
must hear from you no later than 60 days after you received the FIRST statement on which the problem or error appeared. Please provide us with:
If you notify us verbally, we may require that you send your complaint in writing within 10 business days.
You may contact us by visiting any branch location as listed on our website at www.ExecutiveBank.com, by telephone at 305.274.8382 during normal business hours. You may email us securely through the Contact Us function through Electronic Banking. Additionally, may contact us through email@example.com, however do not include account numbers and/or personal identifying information as this is an unsecured method of e-mail.
I acknowledge that the External Transfer feature allows me to electronically transfer funds via the automated clearing house (“ACH”) between my eligible Executive National Bank account(s) and my External Account(s) at
other financial institutions. Once I have successfully registered my External Account(s) through the online CeB External Account tool. This includes:
Subject to the terms of the External Transfer Agreement, including the terms of my Executive National Bank CEB Internet/Bill Pay Agreement/Mobile Deposit Service Agreement, I hereby authorize Executive National Bank to initiate deposits and/or withdrawals to/from my eligible Executive National Bank accounts and each registered External Account indicated previously at the depository institution(s) I have established through the online CeB
External Account verification process. Also, to deposit and/or withdraw to and from such accounts for (a) various amounts at varying times by making on-demand transfers pursuant to my instructions, and/or (b) for a fixed amount at the frequency I have selected by making recurring transfers pursuant to my instructions.
I hereby represent and warrant that I have all necessary right, power and authority to debit and credit the External Account(s) as established through the CeB online External Transfer account set-up tool, and that all information entered above is complete and accurate. I agree that ACH transactions I authorize comply with all applicable law.
Should an incorrect amount be withdrawn from or deposited to my External Account(s) or my Executive National Bank account(s), I authorize Executive National Bank to correct the error by debiting/crediting my External Account(s) or my Executive National Bank account(s).
This authorization is to remain in full force and effect until Executive National Bank has received written notification from me of its termination in such time and in such manner as to afford Executive National Bank has a reasonable opportunity to act on it. I will send my notice to: Executive National Bank, 9600 N. Kendall Drive, Miami, Florida 33176.
Any modifications to my authorization (e.g., addition of certain outside banks) must be made through Online Banking. I acknowledge that the origination of ACH transactions must comply with the provisions of applicable law and the rules of the National Automated Clearing House Association (NACHA). I request the financial institution that holds my External Account to honor all transfers initiated in accordance with this authorization form.
*I agree to print this ACH Authorization and retain a hard copy or electronic copy.
Your privacy is very important to us. We would like to advise you that Internet email is not secure. Please do not submit any information that you consider confidential. We recommend you do not include your social security or account number or other specific identifying information.
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