ACH Transfer Account Agreement

I acknowledge that transfers to and from my Kinecta Federal Credit Union account will not be completed until the estimated delivery date displayed on the Create a Transfer Screen, dependent on the time of day my transfer is initiated plus the internal procedures of the sending/receiving financial institution. 

I hereby authorize Kinecta Federal Credit Union to electronically transfer funds between my accounts at Kinecta Federal Credit Union and another financial institution except in the case of unavailable funds or other restrictions. Kinecta Federal Credit Union may, when necessary, and without prior notice to me, make adjustments to any errors. Kinecta Federal Credit Union will transfer funds in accordance with this authorization, and shall not be liable for any loss due to inaccurate information. Once a transfer is made to or from another financial institution, Kinecta Federal Credit Union will have no responsibility or liability for the deposit or withdrawal of such funds. 

I acknowledge that the origination of ACH transactions to my account must comply with the provisions of U.S. laws and regulations. I certify that I am an owner and am authorized to conduct transactions on all accounts involved in the transfer.

I understand this authorization is in full force and effect until I inactivate or delete the account from my accounts transfer list.

I understand that if corrections to my requested transaction amount are necessary after it is posted to my account that I am authorizing Kinecta Federal Credit Union to make adjustments to any errors, in accordance with the Kinecta Federal Credit Union’s Agreement and Disclosures terms and conditions. I understand that these adjustments may involve a deposit or withdrawal to my account(s).

Transfer Limits 

If I initiate a transfer to or from another financial institution from my Kinecta Federal Credit Union account through Online Banking, the funds will be deposited to my Kinecta Federal Credit Union account on the first business day after the effective date you receive the funds; there will be a hold on the funds for up to three (3) business days after the deposit of funds to the account unless a longer hold would apply in accordance with the terms of your Agreement and Disclosures terms and conditions or you send me a separate notice advising me that a longer delay may apply. The funds will be available for withdrawal on the business day following the release of the hold.

I acknowledge that the maximum dollar limit of any External Transfer to or from a Kinecta Federal Credit Union account is currently $20,100 per day and $40,200 per any 30 calendar day period. Kinecta reserves the right to change these limits at any time without notice except as may be required by law. 

I certify that only personal accounts of which I am the owner may be added to Pay or Transfer to and from my Kinecta Federal Credit Union account. Commercial accounts are not eligible for transfers from my account.

I understand that this agreement applies to all electronic transactions occurring after the consent to this agreement. This authorization may be unilaterally terminated by Kinecta Federal Credit Union.

I agree to the terms and conditions of this ACH Transfer Account Agreement.