One such additional security precaution is dual control. The term “dual control” refers to a process in which the active involvement of two people is required to complete a particular transaction. Dual control is one of the foundations of online banking and information security because it is based upon the premise that both parties would have to be in collusion for a security breach to occur. The system enables your Authorized Agents to set rights and privileges for your users to be initiators and/or approvers of online banking transactions. If dual control is implemented, then a transaction requires one individual to initiate the transaction and a separate individual to approve the transaction in order for Bank to process the transaction. Because no one security method or combination of methods is failsafe, you must ensure that your network and all computer systems are updated, protected against intrusion and otherwise administered in accord with best practices.
If Bank at any time determines that there is an inaccuracy in the Designated Lockbox Account, or that an entry previously posted to the Designated Lockbox Account was revoked or did not become final (including but not limited to the return of deposited items unpaid), then Bank may debit such amount against the Designated Lockbox Account or if Bank cannot obtain payment of such amount by debiting the Designated Lockbox Account or the Designated Fee Payment Account, then Customer agrees to pay such amount to Bank immediately upon demand.
A number of our Services are subject to processing cutoff hours. The cutoff hour for wire transfers is 1:45 p.m. (Pacific time) on our banking days. The cutoff hour for standard, next-day ACH transactions and tax payments is 3:00 p.m. (Pacific time) on our banking days. Same-Day ACH transfers may be subject to a different cutoff hour as described in the Electronic Funds Transfer Agreement and applicable Schedules. Instructions received after the cutoff hour or on a non-banking day may be deemed received as of the next banking day.
It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.
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