3/ Funds paid as payment to an eligible credit card, a line of business credit, a home line of credit during the draw period (“HELOC”), an installment loan or a mortgage (all “loan accounts”) are credited from the date the payment is deposited. Account credit updates, availability of funds and transaction bookings can take up to 2 business days. 4.3 The bank may make the transfers it receives from the customer in any convenient order for the bank, regardless of the order in which they were received. If more than one transfer request is made at or about the same time and the funds available in the corresponding account do not cover all such orders or requests, the Bank may execute as many such orders or requests as possible within the dollar of such funds available. 14. Refunds. If the beneficiary`s bank does not pay the beneficiary indicated in the transfer order, the refund is only made after the bank has received confirmation of the effective cancellation of the transfer order and the bank is in free possession of the funds debited or allocated as part of the transfer order. Each refund is made either for (i) the nominal amount of the transfer (less bank charges and the fees and expenses of correspondents, agents or sub-agents of the bank), or (ii) the amount actually collected by the bank to settle the liability of our correspondents, agents or sub-agents or postal services foreign to the bank, which is the lowest. However, for the refund, the bank has the possibility to make the refund (i) in foreign currency or (ii) in US dollars at the purchase price of the bank to the customer on the day of the refund, for a transfer consisting of currencies or partly foreign currency.
If the funds intended for the payment of the transfer have been transferred abroad and have not been returned or made available to the bank, the bank is not obliged to make a refund on the basis of the transfer. The bank is not responsible for an amount greater than the amount paid for the transfer, excluding commissions, cable fees and other expenses. 15. Use of Correspondence Accounts. A transfer may be made through a bank or a number of correspondence banks of the beneficiary`s bank and the bank in a manner deemed most appropriate and efficient by the bank or any other bank participating in the transfer. 16.2BANK MAY IMPLEMENT ADDITIONAL STEPS AND PROCEDURES IT DEEMS APPROPRIATE TO VERIFY THE AUTHENTICITY OF A TRANSFER. THE BANK MAY DELAY THE EXECUTION OF A TRANSFER UNTIL A REMINDER IS COMPLETED OR THERE IS ANOTHER FORM OF VERIFICATION SATISFACTORY TO THE BANK. IF THE BANK IS UNABLE TO OBTAIN SATISFACTORY CONTROL, THE BANK MAY REFUSE TO MAKE A TRANSFER AT ITS SOLE DISCRETION. Under no circumstances is the Bank held responsible for delays in the execution of a transfer or the failure to make a transfer due to the lack of satisfactory verification. 3.1 By filing a transfer request, the customer authorizes the bank to withdraw from the current account indicated by the customer the amount of a requested transfer that the customer can authorize and order, plus all applicable fees and charges.
Subject to the conditions set out in this Annex, the Bank shall accept and make a transfer received by the Customer, which has been authenticated by the Bank and meets the security procedures (described below), cut-off periods, transaction limits and other requirements, as described in this Annex and in all exposures, installation forms and other related documents. The bank refuses payment orders that would result in the customer`s transactions exceeding the daily transaction limit or the daily exposure limit set by the bank for the customer.. . . .