External Transfers (ODFI/Originator ACH Origination)

External transfer services enable funds to be transferred to accounts at other financial institutions. By enrolling an external account or making a transfer using the account-to-account service, you accept all the terms and conditions. You represent that you are an owner of that external account and are authorized by any other owners of the external account to enroll that account to make external transfers.

You authorize Mountain America Federal Credit Union to initiate electronic Credit and Debit Entries for payment to consumer and/or commercial accounts maintained at the Credit Union and/or other financial institutions, by means of the Automated Clearing House (“ACH”). ACH Origination Services are an option. If you have selected this option or use these Services then these ACH Origination Term and Conditions apply.

The Member/Originator agrees to comply with the Rules of NACHA, the Western Payments Alliance (“WesPay”), including any future updates thereto, and shall abide by the applicable laws of your state and of the United States of America. This includes, but is not limited to, Federal Regulations E, and sanctions enforced by the Office of Foreign Assets and Control (“OFAC”). You and We are bound by the Rules for all entries whether or not an Entry is sent through the ACH network. Copies of the Rules may be purchased directly from WesPay at www.wespay.org.

The Member/Originator warrants and agrees that it will obtain authorization and comply with all warranties for all Entries as required by the Rules. The Credit Union system supports and transmits Prearranged Payment and Deposit (“PPD”), Cash and Concentration Disbursements (“CCD”), Telephone Initiated Entries(“TEL”), or Internet Initiated (“WEB”) Entries. Permission for use of this service is granted by the Credit Union. The Credit Union has the authority to add or remove access to this Service for each Subordinate User and set processing limits up to and including the file Processing Limits set by the Credit Union.

We may terminate your ACH transaction authority at any time for breach of NACHA rules in a manner that permits the ODFI to comply with NACHA rules. The Credit Union has the right to audit the Originator at our sole option and discretion, and in accordance with NACHA rules. Member shall, upon our request, provide to us any audit related information and assistance as we may require or perform our review. Whether you meet our determined standards is in the sole determination of the Credit Union, and if you fail to provide such information or assistance when requested, it shall constitute a breach of this Agreement and shall permit us to terminate this Agreement and all Services.