Common use of Account Holder Liability Clause in Contracts

Account Holder Liability. If any check is deposited to your Account and then returned unpaid to BECU from the paying financial institution for any reason whatsoever, the amount of the check may be deducted from your Account. All Account Holders will be liable (jointly and severally) to BECU for any resulting negative balance in your Account. Likewise, if any transfer or credit is made to your Account and the transfer or credit was fraudulent, unauthorized, or invalid in any way whatsoever, BECU may deduct the amount of the transfer or deposit from your Account. All Account Holders will be liable (jointly and severally) to BECU for any resultingnegative balance in your Account. Further, if an Account has a negative balance for any reason, all Account Holders will each be liable (jointly and severally) to BECU for payment on demand of the amount of the returned check, the fraudulent, unauthorized, or invalid transfer or deposit, and any negative balance regardless of who created the negative balance, cashed the check, delivered the check for credit to your Account, or caused the negative balance in your Account, directed the credit to or debit from your Account, or benefited from the transaction. If any Account Holder is indebted to BECU such that we have a lien against or may offset an Account of that Primary Member or Joint Account Holder, you agree that we may enforce our rights against any or all funds in the Account(s) regardless of whoowes the debt or contributed to the Account.