Wire Transfer Agreement Print

Wire Transfer Agreement

This agreement (“Agreement”) which is an addendum to the Business Online Banking Agreement and Disclosures, is made this _________ day of __________, 20____, by and between _________________________________ (the “Customer”) and The Bank of Glen Burnie (“Financial Institution”).

Unless otherwise defined herein, capitalized terms shall have the meaning provided in the Federal Reserve Board’s Regulation E, 12 C.F.R Part 205.

WHEREAS, Customer has requested use of Financial Institution’s wire transfer services (“Services”) through Financial Institution’s Business Online Banking System and the Financial Institution desires to provide such Services as a convenience to Customer under the terms of this Agreement.

NOW, THEREFORE, in consideration of the mutual promises contained herein, the Parties hereby agree as follows:

1. Term and Termination

This Agreement will begin on the Effective Date and shall continue until terminated by either Party providing the other Party with prior written notice. Termination of this Agreement will not affect the Parties’ respective rights and obligations with respect to wire transfers executed prior to the date of termination.

2. Fees

Financial Institution reserves the right, upon prior written notice to Customer, to charge service fees as set forth in Financial Institution’s schedule of fees from Schedule A, for the Services provided hereunder. Financial Institution may from time to time increase the amount of any such service fees upon prior written notice to Customer. The service fee would be charged to the account associated with the wire transfer.

3. Authorized Representative

The “Authorized Representatives” including the Customer Representative and Users designated by the Customer Representative, as provided in Attachment 1 (Designation of Customer Representative) attached hereto, are authorized to initiate and/or verify wire transfers on Customer’s behalf. Any action Customer may take under this Agreement may be taken on Customer’s behalf by an Authorized Representative and any action taken by an Authorized Representative shall be fully binding on Customer. Customer may terminate the authority of any Authorized Representative at any time by giving notice of termination to Financial Institution. No notice of termination of authority will be effective unless and until it is received by Financial Institution. Notice of termination of authority may be oral or in writing, provided that any oral notice must be promptly confirmed in writing.

4. Wire Transfer Instructions

a. Any payment order and any instructions for transfer relating thereto (“Payment Order”) must conform to the procedures prescribed by Financial Institution, including Cut-Off Time (3:00 PM Eastern Standard Time for both Domestic and International Wires) for receiving Payment Orders. Financial Institution may from time to time amend such procedures upon prior written notice to Customer. Any Payment Order received by Financial Institution after 3:00 PM EST shall be treated by Financial Institution as received on the next business day. For the purposes of this Agreement, “Business Day” means Monday through Friday, excluding federal holidays. A federal calendar is attached as Schedule B.

b. Customer may issue Payment Orders to Financial Institution via the Business Online Banking System or, in the event that the Business Online Banking System is not available, Customer may initiate a wire transfer by delivering a signed Wire Transfer Form in person at a branch location providing the account number of the account to be debited and the wire transfer instructions including the receiving bank’s American Bankers Association (ABA) routing number and the account to be credited.

c. Financial Institution is entitled, but not required, to authenticate any payment Order received from Customer through call-back verification by Customer or Authorized Representative or by any other means Financial Institution deems appropriate. Financial Institution will not be responsible for detecting erroneous Payment Orders as described in Section 4A-205 of the Uniform Commercial Code. Financial Institution’s failure to authenticate any Payment Order will not be construed as a failure on Financial Institution’s part to exercise reasonable care or to act in good faith. Financial Institution reserves the right to refuse to execute any Payment Order if Financial Institution cannot verify the Payment Order. Financial Institution shall have no liability for refusal to execute any Payment Order for any reason.

d. Customer is solely responsible for the accuracy of information contained in Payment Orders issued by Customer or any Authorized Representative. Financial Institution (or any other receiving bank) may rely solely on the information contained in a Payment Order issued by Customer, including an identifying or bank account number, and may process a Payment Order based on such information, notwithstanding that the identifying or bank account number may not correspond to the bank, person, or account identified by name in the Payment Order or associated with the identifying or bank account number. Financial Institution has no duty to determine whether the name and bank account number refer to the same person, bank, or account. Customer’s obligation to pay the amount of the Payment Order will not be excused where funds are transferred to the person, bank, or account identified by number. Customer agrees to indemnify and hold Financial Institution harmless from and against any loss or liability, including attorney’s fees, that Financial Institution may incur as a result of Financial Institution’s reliance on the identifying or bank account number in executing or attempting to execute the Payment Order.

5. Security Procedures; Verification

Customer agrees to comply with security procedures identified below (the “Security Procedures”) in communicating all Payment Orders pursuant to this Agreement. Customer understands that the Security Procedures are designed to verify the authenticity, and not to detect errors, in transmission or content, of the Payment Orders. If a Payment Order is authorized or issued by Customer, or on Customer’s behalf, or Customer otherwise benefits from such Payment Order, Customer agrees to be bound by the Payment Order, whether or not Financial Institution complies with the Security Procedures. The Security Procedures for Payment Orders shall consist of the procedures Financial Institution and Customer use to verify that a Payment Order has been validly issued by Customer and shall include:

a. Wires created in the service by Customer will be under Dual Control: a first Authorized User will initiate the Wire in the Service, and a second Authorized User will approve the Wire prior to transmission to Financial Institution.

b. Customer warrants and agrees that no individual will be allowed to initiate and/or approve wire transfers in the absence of proper supervision and adequate safeguards.

c. Customer agrees to maintain the confidentiality of any Security Procedures and prevent the disclosure of such procedures except on a “need to know” basis. Customer shall notify Financial Institution immediately at (410) 766-3300 if Customer becomes aware of or suspects that any of the procedures relating to the transfer of funds may have been compromised or disclosed.

d. Customer’s unique user IDs, passwords, Token and/or other access devices or authentication techniques as Financial Institution may require from time to time (“Access Codes”) to access the Services will be provided to the Authorized Representative(s). Customer agrees that Access Codes are strictly confidential and must be safeguarded. Customer shall have sole responsibility for controlling the distribution and maintaining the confidentiality of the Access Codes assigned to Customer. Customer acknowledges that anyone with knowledge of Customer’s or Authorized Representatives’ Access Codes will be able to issue Payment Orders on Customer’s account. Customer authorizes Financial Institution to execute Payment Orders pursuant to the instructions of anyone who has provided Financial Institution with proper Access Codes and acknowledges the Financial Institution shall conclusively presume that any person possessing Customer’s Access Codes is an Authorized Representative and will regard their Payment Order as being authorized by Customer. If Customer becomes aware of the unauthorized use of Access Codes, or suspects that an unauthorized use may occur, or if Customer has terminated authorization for an Authorized Representative, Customer shall immediately notify Financial Institution at (410) 766-3300 to deactivate such Access Codes and issue new Access Codes as appropriate. IN NO EVENT SHALL FINANCIAL INSTITUTION BE RESPONSBILE FOR ANY DAMAGES RESULTING, EITHER DIRECTLY OR INDIRECTLY, FROM THE UNAUTHORIZED USE OF THE ACCESS CODES PRIOR TO SUCH NOTICE AND A REASONABLE TIME THEREAFTER REQUIRED TO CANCEL SUCH PASSWORD(S).

e. Financial Institution may from time to time, and at its sole discretion, change the Security Procedures or establish additional Security Procedures.

f. Customer agrees that Financial Institution may delay the execution of a Payment Order until Financial Institution has completed any security measures Financial Institution, in its sole discretion, deems warranted.

g. Customer is responsible for ensuring that there are adequate software and hardware security measures in place on Customer’s computers to prevent initiation of fraudulent payment. Such security measures include but are not limited to anti-virus, malware, key logger detection software, firewalls, and any other “crimeware” protection programs.

h. Customer has carefully analyzed the Security Procedures which will be used in connection with Payment Orders, under the terms of this Agreement, and acknowledges the Security Procedures identified herein are a satisfactory method of verifying authenticity of Payment Orders based on Customer’s needs and that the Security Procedures are commercially reasonable.

6. Confirmation of Payment Orders

a. Financial Institution shall, within a reasonable period, provide Customer a confirmation of Payment Orders received. This confirmation will be provided to Customer through the Financial Institution’s Business Online Banking System. Customer acknowledges that the Financial Institution’s Business Online Banking System is a reasonable method of delivery of Payment Order confirmations.

b. Customer is responsible for promptly reviewing all confirmations of Payment Orders and bank statements received from Financial Institution. An unauthorized Payment Order or error must be reported to Financial Institution within thirty (30) days of the earlier of the date Customer receives a confirmation of the Payment Order or the date the Customer receives a bank statement on which the debit resulting from the unauthorized or erroneous Payment Order is reflected. Customer’s failure to notify Financial Institution within the requisite time period will prevent Customer from asserting against Financial Institution any claim for lost interest or any other loss or cost relating to an erroneous or unauthorized debit of Customer’s account.

c. A confirmation of a Payment Order or a bank statement, sent or made available to Customer by any reasonable method, is conclusively presumed to have been received by Customer five (5) days after such Payment Order confirmation or bank statement was sent by Financial Institution.

7. Authorization to Transfer Funds; Acceptance and Execution of Payment Orders

a. Customer authorizes Financial Institution, pursuant to Customer’s instructions, to execute Payment Orders on Customer’s behalf and to debit Customer’s account that is specified in the Payment Order for the amount of such transfer and any applicable fees for each transfer.

b. Customer agrees to provide Financial Institution for each owner of the account, any Authorized Representative, any recipient or beneficiary of the funds transfer, or any other party connected to the funds transfer with any information requested by Financial Institution for purposes of Financial Institution’s compliance with the Bank Secrecy Act and any other applicable federal or state laws or regulations. Customer further agrees to supply Financial Institution with any information Financial Institution may reasonably request, including but not limited to, money amounts, accounts to be affected, date of transfer, supplemental instructions, and further evidence of any Authorized Representative’s authority to transfer funds or to perform any other act contemplated under the procedure required by this Agreement.

c. Financial Institution will generally act upon a Payment Order on the day it is received, if the request is received by the Cut-Off Time on a Business Day. Financial Institution reserves the right to process Payment Orders in any order convenient to Financial Institution and by any means of transmission, funds transfer system, clearing house, or intermediary bank, Financial Institution may reasonably select to transfer the funds. Financial Institution also reserves the right to process a Payment Order request the next business day if it cannot be processed the day of receipt. Absent willful misconduct or gross negligence, Financial Institution shall incur no liability due to any delay in execution of a Payment Order.

d. Financial Institution will make a good faith effort to execute Payment Orders according to the instructions issued by Customer. Financial Institution may reject any Payment Order that does not comply with the terms of this Agreement, including the Security Procedures and the form and means of submitting payment order provided in Section 4 (Wire Transfer Instructions). Financial Institution shall have no obligation to execute a Payment Order unless, at the time of execution, (i) there are sufficient available funds in the Customer’s account to cover the Order, or (ii) Financial Institution has otherwise received full payment in a manner acceptable to Financial Institution in its sole discretion. If Customer’s records and Financial Institution’s records disagree regarding the account balance, the Financial Institution’s record will control for purposes of processing the Payment Order. Financial Institution may also reject any Payment Order if it may be returned for any reason under the applicable national payment system rules of the receiving country of Customer’s transaction. If a Payment Order is to be handled under any general or specific statute, rule, regulation, or license of the United States, or any agency thereof, the Payment Order shall be subject to such statute, rule, regulation, or license. Financial Institution reserves the right to reject or impose conditions on the acceptance of Payment Orders for any reason. Notices of rejection may be given to Customer through the Financial Institution’s Business Online Banking System or by telephone, facsimile, courier or mail and will be effective when given.

e. Financial Institution shall have no obligation to process Customer’s Order if Financial Institution is unable to verify the instructions in accordance with the Security Procedures below; if instructions are not in the format required by Financial Institution; if Financial Institution is prohibited by any law, regulation, or order from processing the instructions, or if Financial Institution is unable to execute the transfer due to circumstances beyond the Financial Institution’s reasonable control.

f. Financial Institution, at its sole discretion, may, but is not required, and Customer hereby authorizes Financial Institution, to overdraft Customer’s account in completion of a Payment Order from Customer. Financial Institution will not be liable for any fees, losses, or damages to Customer for such overdraft. Customer will be liable to Financial Institution for any overdraft created by a wire transfer together with any related service charges and costs of collection, including reasonable attorney’s fees. Financial Institution may offset any Customer’s accounts with Financial Institution in order to collect on sums owed by Customer including interest and fees. Nothing in this agreement shall be interpreted as to require that Financial Institution grant credit to Customer, whether by permitting overdrafts for the execution of a Payment Order or otherwise, notwithstanding the fact that Financial Institution may have previously established a pattern of allowing such overdrafts.

g. All deposits to and withdrawals from Customer’s account to affect a funds transfer will be processed in U.S. Dollars. For international transfers, Financial Institution will not convert funds to or from U.S. Dollars.

h. If the bank designated to receive the funds does not pay the beneficiary specified in the Payment Order, a refund will be made to Customer only after Financial Institution has received confirmation of the effective cancellation of the Payment Order and Financial Institution is in possession of the funds debited or earmarked in connection therewith. If the Payment Order is payable in foreign currency, Financial Institution shall not be liable for a sum in excess of the value of the Payment Order is payable in foreign currency, Financial Institution shall not be liable for a sum in excess of the value of the Payment Order after it has been converted from foreign currency to U.S. Dollars at the receiving bank’s buying rate for exchange at such time as the cancellation of the Payment Order is confirmed by Financial Institution.

i. All credits to Customer’s account for funds transfers which Financial Institution receives are provisional until Financial Institution receives final settlement for the funds according to the rules of the funds transfer system by which the funds have been transmitted. Customer acknowledges and agrees that Financial Institution is entitled to a refund of any amount credited to Customer’s account for a transfer if Financial Institution does not receive final settlement.

8. Cancellation or Amendment of Payment Order

a. Customer shall have no right and Financial Institution shall have no obligation to cancel or amend any Payment Order after receipt of such Payment Order by Financial Institution. Financial Institution may, in its sole discretion, make a reasonable effort to comply with a request to cancel or amend a payment Order if Financial Institution has a reasonable opportunity to act on such request and such request is in compliance with the Security Procedures provided in this Agreement. Financial Institution shall have no liability if a request to cancel or amend a Payment Order is not affected. Customer agrees to indemnify and hold Financial Institution harmless from any and all liability, claims, cost, expenses and damages of any nature, including attorney’s fees, incurred in connection with any request by Customer or an Authorized Representative to cancel or amend a Payment Order.

b. Customer’s obligations under this Section 8 (Cancellation or Amendment of Payment Order) shall survive the termination of this Agreement.

9. Representations and Warranties

a. Customer agrees to comply with and be bound by the terms of the Electronic Funds Transfer Act and the Uniform Commercial Code Article 4A, each as applicable, and to otherwise perform its obligations under this Agreement in accordance with all applicable laws, regulations, and orders, including, but not limited to, the sanctions laws, regulations, and orders administered by FinCEN; restrictions imposed under the Unlawful Internet Gambling Enforcement Act of 2006 (“UIGEA”), and any state laws, regulations, or orders applicable to the providers of ACH payment services. It shall be the responsibility of Customer to obtain information regarding such OFAC enforced sanctions, which information may be obtained directly from the OFAC Compliance Hotline 1-800-540-OFAC. Without limiting the foregoing, with respect to each and every Entry, transmitted by Customer, Customer represents and warrants to Financial Institution and agrees that (a) it will not initiate any transactions in violation of the requirements or sanctions of OFAC or act on behalf of, or transmit funds to or from, any party subject to OFAC sanctions, and (b) it will not initiate any transactions in violation of or restricted under the UIGEA or its implementing regulations.

b. Customer represents and warrants that all information provided to Financial Institution under the terms of this Agreement is accurate and complete as of the time it is provided. Customer shall promptly notify Financial Institution of any material changes to the information provided.

c. Customer shall indemnify and hold harmless Financial Institution against any fine, penalty, sanction, loss, liability, or expense (including attorneys’ fees and expenses) resulting from or arising out of any breach of any of the foregoing representations or warranties.

10. Settlement; Security Interest

a. Customer will always maintain an account with Financial Institution during the term of this Agreement (the “Settlement Account”). Customer shall always maintain in the Settlement Account a balance of collected funds sufficient to cover Payment Orders initiated pursuant to this Agreement. Financial Institution may, without prior notice or demand, obtain payment of any amount due and payable to it under the Agreement by debiting the Settlement Account. In the event there are not sufficient collected funds in the Settlement Account to cover Customer’s obligations under this Agreement, Customer agrees that Financial Institution may debit any account maintained by Customer with Financial Institution or that Financial Institution may set off against any amount it owes to Customer, in order to obtain payment of Customer’s obligations under this Agreement. Financial Institution may at any time and without prior notice to Customer refuse, delay, or suspend payment of any Payment Order initiated by Customer if the Settlement Account does not contain sufficient funds to cover such Payment Orders. Upon request of Financial Institution, Customer agrees to promptly provide to Financial Institution such information pertaining to Customer’s financial condition as Financial Institution may reasonably request.

b. Customer grants Financial Institution a security interest in the Settlement Account to secure all debt and obligations Customer owes Financial Institution at all times the Settlement Account is open. Customer also agrees that all collateral it currently has pledged or may hereafter pledge to Financial Institution will secure all current or future debt and obligations due and owing Financial Institution. Customer further agrees that it will execute and deliver any additional documents Financial Institution deems necessary in its sole discretion to perfect the lien(s) granted by Customer.

11. Limitation of Liability; Indemnification

a. Customer assumes full responsibility for all transfers made by Financial Institution in good faith in accordance with the terms of this Agreement and agrees that Financial Institution be conclusively deemed to have exercised reasonable care and to have acted in good faith if it has followed the procedures required by this Agreement. In no event will Financial Institution be liable for any loss, claim, demands, expenses or damages arising directly or indirectly from Payment Orders executed by Financial Institution in good faith in accordance with the terms of this Agreement.

b. Customer agrees to indemnify and hold Financial Institution harmless from and against any loss, claim, demands, expenses or damages including without limitation reasonable attorney’s fees and court costs, resulting directly or indirectly from (i) Financial Institution’s compliance with or carrying out of any instructions or requests (including any Payment Order) which indentifies Customer as originator, whether or not authorized, if such instruction or request is accepted by Financial Institution in good faith and in accordance with the Security Procedures, or (ii) Financial Institution’s refraining from executing a Payment Order after reasonable efforts to verify such Payment Order has failed, or in delaying execution until verification is obtained. Customer will not be required to indemnify Financial Institution against damages attributable to Financial Institution’s gross negligence or willful misconduct.

c. Subject to the limitations provided in this Section 11 (Limitation of Liability; Indemnification), Financial Institution’s liability, if any, for loss or damage arising from or related to this Agreement or any Payment Order will be limited to (i) actual damages incurred by Customer resulting directly from Financial Institution’s willful misconduct or gross negligence, and (ii) interest on any refundable principal amount, for a period not to exceed 20 days or the period of time from the date Financial Institution made payment to date of refund, whichever is less, in the event Financial Institution executes a Payment Order which is unauthorized, and Customer does not otherwise benefit from the transfer of funds. However, Customer is not entitled to interest on any amount to be refunded hereunder if Customer failed to exercise ordinary care to determine that the order was either unauthorized or erroneous and to notify Financial Institution of the relevant facts in accordance with the terms of Section 6 (b) of this Agreement.

d. If Financial Institution is notified that a Payment Order executed by Financial Institution did not transfer the full amount stated in Customer’s instructions, Financial Institution’s sole responsibility and liability shall be to promptly execute a second order in the amount of the stated deficiency.

e. Financial Institution will not be liable for and will be excused from any failure to carry out, or delay in carrying out, any of Financial Institution’s obligations under this Agreement if such failure or delay results from circumstances beyond Financial Institution’s control, including but not limited to acts of God, strikes, and other labor disputes, civil disorder, catastrophes of nature, fire, explosion, natural or man-made floods or any severe weather, war, failure of a communications or computer system, nuclear attack, embargoes, actions or inactions of governmental authorities affecting either Financial Institution or suppliers to Financial Institution or if Financial Institution reasonably believed that action would have violated any law, rule, or regulation. Financial Institution agrees to make reasonable efforts to prevent such occurrences from affecting the execution of this Agreement.

f. Financial Institution’s sole responsibility under this Agreement is to make a reasonable effort to execute Customer’s Payment Orders. Financial Institution will have no responsibility for the acts or omissions of Customer, Authorized Representatives, or Customer’s employees or agents, including but not limited to the amount, accuracy, timeliness, or authorization of any instructions or information in a Payment Order, or the acts or omissions of any other person or entity, including but not limited to any clearing house association or processor, any Federal Reserve Bank or any other country’s central bank or any other financial institution, and no such person or entity will be deemed an agent of Financial Institution.

g. EXCEPT AS OTHERWISE REQUIRED BY LAW, REGARDLESS OF THE FORM OR NATURE OF ANY CLAIM OR ACTION, CUSTOMER AGREES THAT IN NO EVENT SHALL FINANCIAL INSTITUTION BE LIABLE TO CUSTOMER OR ITS CUSTOMERS OR AGENTS FOR PUNITIVE, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOSS OF PROFIT, WHETHER OR NOT FINANCIAL INSTITUTION SHALL HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, IN CONNECTION WITH OR ARISING OUT OF THE FURNISHING OR PERFORMANCE OF THE SERVICES CONTEMPLATED HEREIN INCLUDING, WITHOUT LIMITATION, ANY ECONOMIC LOSS OR DAMAGE, EXPENSE OR LOSS OF BUSINESS, PROFITS OR REVENUE, GOODWILL, AND ANTICIPATED SAVINGS, LOSS OF OR CORRUPTION OF CUSTOMER’S DATA, LOSS OF OPERATION TIME OR LOSS OF CONTRACTS.

h. The provisions of this Section 11 (Limitation of Liability; Indemnification) and any other limitations of liability or acknowledgement of indemnification under the terms of this Agreement shall survive termination of this Agreement.

i. Financial Institution shall have no further liability beyond that which is set forth in this Section 11 (Limitation of Liability; Indemnification).

12. Notice

Except as otherwise provided in this Agreement, written notice from Financial Institution will be sent to Customer at Customer’s address as it appears on the Financial Institution’s records at the time of such notice and will be effective when received or five (5) days after being mailed by U.S. mail, whichever is earlier. Except as otherwise provided in this Agreement, any written notice Customer is required to provide to Financial Institution must be signed by Customer or an Authorized Representative and delivered or sent to Financial Institution by first class U.S. mail at:

The Bank of Glen Burnie
Attn: Deposit Operation
106 Padfield Blvd
Glen Burnie MD 21061

Notices to Financial Institution shall be effective when actually received by Financial Institution and after Financial Institution has had a reasonable time to act upon such notice.

13. Governing Law

This Agreement and performance hereunder shall be governed by Article 4A of the Uniform Commercial Code and the laws of the State of Maryland. All Payment Orders issued by Financial Institution in the name of Customer shall also be subject to the rules and regulations of any funds transfer system used by Financial Institution and where applicable, Subpart B of Regulation J (12 C.F.R. Part 210).

14. Entire Agreement

This Agreement shall constitute the entire Agreement between the Parties and shall supersede any and all prior oral or written representations, understandings, proposals or agreements between the Parties regarding the Services to be provided hereunder.

15. Amendment

Financial Institution may amend this Agreement hereto from time to time upon prior written notice to Customer.

16. Assignment

Customer may not assign this Agreement or any of the rights or duties hereunder to any person without Financial Institution’s prior written consent.

17. Binding Agreement; No Third-Party Beneficiary

This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective legal representatives, successors, and assigns. This Agreement is not for the benefit of any other person, and no other person shall have any right against Financial Institution or Customer hereunder.

18. Headings

Headings are used for reference purposes only and shall not be deemed a part of this Agreement nor shall they affect in any way the meaning or interpretation of this Agreement.

19. Severability

In the event that any provision of this Agreement shall be determined to be invalid, illegal, or unenforceable to any extent, the remainder of this Agreement shall not be impaired or otherwise affected and shall continue to be valid and enforceable to the fullest extent permitted by law.

20. Customer Authorization

Customer represents and warrants that each owner of the applicable Financial Institution account(s) has signed this Agreement. Customer further represents and warrants that each such owner has the authority and authorization to act on behalf of all other owners of each Financial Institution account which shall utilize the Services hereunder and that Financial Institution may rely on the instructions of any owner or Authorized Representative.

21. Counterparts

This Agreement may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different parties in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

22. Wire Origination Limit

The limit per wire will be set at $______________.

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and do each hereby warrant and represent that their respective signatories appear below, have been and are on the date of this Agreement, duly authorized by all necessary and appropriate corporate action to execute this Agreement.

The Bank of Glen Burnie:   

____________________________________
Signature

____________________________________
Printed Name

____________________________________
Title

Customer:  

____________________________________
Signature

____________________________________
Printed Name

____________________________________
Title

Attachment 1: Authorized Representatives

The individuals listed below (the “Authorized Representatives”) are authorized to initiate and/or verify wire transfers on Customer’s behalf under the terms of this Wire Transfer Agreement. Customer must notify Financial Institution in writing if Customer wishes to add or delete an Authorized Representative.

Schedule A

Service Fees

Fee Schedule: Customer authorizes Financial Institution to debit any of the following fees from Customer’s Account for use of the Service:

Wire Transfer

• Domestic – outgoing:  $25.00
• Domestic – incoming:  $15.00
• There will be a $30.00 replacement fee for a lost token.

Customer Account to be charged: _______________________________

Schedule B

Holiday Schedule

Holiday Calendar

The Financial Institution will be closed on the following standard holidays observed by the Federal Reserve Bank. The Financial Institution will not accept files for processing on the following days, as well as all Saturdays and Sundays. Likewise, entries should not be effective dated for these days.

New Year’s Day   (January 1)

Martin Luther King’s Birthday   (Third Monday in January)

Presidents Day   (Third Monday in February)

Memorial Day   (Last Monday in May)

Juneteenth (June 19)

Independence Day   (July 4)

Labor Day   (First Monday in September)

Columbus Day   (Second Monday in October)

Veterans Day   (November 11)

Thanksgiving Day   (Fourth Thursday in November)

Christmas Day   (December 25)

 Note:  If January 1, June 19, July 4, November 11, or December 25 fall on a Sunday, the next following Monday is a standard Federal Reserve Bank holiday.

Version 09-2024