Ohio Code § 1304.78

§ 1304.78.

(A) Subject to division (E) of section 1304.66 and divisions (D) and (E) of section 1304.77 of the Revised Code , the originator of a funds transfer shall pay the beneficiary of the originator's

payment order at the time a payment order for the benefit of the beneficiary is accepted

by the beneficiary's bank in the funds transfer and in an amount equal to the amount

of the order accepted by the beneficiary's bank, but not more than the amount of the

originator's order. (B)(1) If payment under division (A) of this section is made to satisfy an obligation, the

obligation is discharged to the same extent discharge would result from payment to

the beneficiary of the same amount in money, unless all of the following apply: (a) The payment under division (A) of this section was made by a means prohibited by

the contract of the beneficiary with respect to the obligation. (b) The beneficiary, within a reasonable time after receiving notice of receipt of the

order by the beneficiary's bank, notified the originator of the beneficiary's refusal

of the payment. (c) Funds with respect to the order were not withdrawn by the beneficiary or applied

to a debt of the beneficiary. (d) The beneficiary would suffer a loss that could reasonably have been avoided if payment

had been made by a means complying with the contract. (2) If payment by the originator does not result in discharge under this section, the

originator is subrogated to the rights of the beneficiary to receive payment from

the beneficiary's bank under division (A) of section 1304.76 of the Revised Code . (C) For the purpose of determining whether discharge of an obligation occurs under division

(B) of this section, if the beneficiary's bank accepts a payment order in an amount

equal to the amount of the originator's payment order less charges of one or more

receiving banks in the funds transfer, payment to the beneficiary is deemed to be

in the amount of the originator's order unless, upon demand by the beneficiary, the

originator does not pay the beneficiary the amount of the deducted charges. (D) Rights of the originator or of the beneficiary of a funds transfer under this section

may be varied only by agreement of the originator and the beneficiary.