External Transfers Service Agreement
Within Simmons First Bank Anywhere, you may separately enroll for the External Transfers (“Service”). This Service allows you to transfer funds between your personal deposit accounts at Simmons First and certain deposit accounts at other financial institutions. You will need to enroll each of your non-Simmons First accounts that you wish to use for this Service. You agree that you will only attempt to enroll accounts for which you have the authority to transfer funds. All accounts requested to be used as part of this Service will be verified in accordance with Simmons First’s procedures. The verification process must be completed by you prior to using the Service. You will have a defined number of days, as defined in Bank Anywhere, after enrolling an account to complete the verification process. Verification instructions are displayed to you during the enrollment process.
Funds requested to be transferred from your Simmons First Account will be debited from your Simmons First account the business day following the day you initiate the transfer, provided you have met the cutoff time for submitting External Transfers. Funds requested to be transferred to your Simmons First Account will be credited to your Simmons First account three business days following the day you initiate the transfer for any amount over $50, provided you have met the cutoff time for submitting External Transfers. In the case of a future dated or recurring transfer, these time limits will be the business day following the scheduled date of the transfer. The cutoff time for initiating transfers is 4:00pm CT. Funds requested to be transferred will be debited/credited to the non-Simmons First account according to the receiving bank’s availability and transaction processing schedule.
Request for immediate transfers of funds cannot be cancelled. Future dated and recurring transfers can be canceled by 4:00pm CT the day prior to the scheduled transfer date. If the transfer status is In Process, Pending, or Processed, you cannot cancel the transfer. Fees will be charged according to the current schedule of fees. Transfers are subject to number and dollar limits, at Simmons First’s discretion, unless otherwise agreed upon by you and Simmons First. Limits will apply to the total of all External Transfers of a specific type for all accounts enrolled in the Service. We may change your dollar limits and transfer limits at any time.
Unless specifically listed in this agreement, this Service is subject to the definitions and terms of the Simmons First Bank Anywhere Agreement & Disclosure and any amendments thereto. A current copy of the Simmons First Bank Anywhere Agreement & Disclosure can be viewed by selecting Disclosures from the menu bar within your Bank Anywhere account.
By clicking on I Agree below, you agree to the terms of the External Transfer Service Agreement and the Simmons First Bank Anywhere Agreement & Disclosure.