ACH Transactions Clause Samples

ACH Transactions. For ATM and one-time debit card transactions, you must affirmatively consent to such coverage. Without your consent, we may not authorize and pay ATM or one-time debit card transaction that will result in insufficient funds in your account. If you have established our Standard Overdraft Protection Program linking your share or deposit account with other suffixes within your account, you authorize us to transfer funds from another suffix of yours to cover an insufficient item, including transfers from a share or deposit account or your Credit Card account if you so designate. Services and fees for these transactions are shown in the document we use to capture affirmative consent and in our Fee Schedule. Except as otherwise agree in writing, if we exercise our right to use our discretion to pay such items that result in an insufficiency of funds in your account, we do not agree to pay them in the future and may discontinue coverage at any time without notice. If we pay these items or impose a fee that results in insufficient funds in your account, you agree to pay the insufficient amount, including the fee assessed by us, in accordance with our Courtesy Pay Overdraft Program or any other service you may have authorized with us, or if you not have such protections with us, in accordance with any overdraft payment policy we have, as applicable. Checks, drafts, transactions, and other items may not be processed in the order that you make them or in the order that we receive them. We may, at our discretion, pay a check, draft, or item, and execute the other transactions on your account in any order we choose. The order in which we process checks, drafts, or items, and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. Please contact us if you have any questions about how we pay checks or drafts and process transfers and withdrawals. You agree not to issue any check or draft that is payable on a future date (postdated). If you do issue a check or draft that is postdated and we pay it before that date, you agree that we shall have no liability to you for such payment. You agree not to deposit checks, drafts, or other items before they are properly payable. We are not obligated to pay any check or draft drawn on your account presented more than six (6) months past its date.

ACH Transactions. $.06 for each ACH transaction processed by the Bank and submitted to the ACH network.

ACH Transactions. We may accept payments on your behalf to your account or payments from your account which have been transmitted via an Automated Clearing House (“ACH”) transaction. These transfers will be subject to the rules of the National Automated Clearing House Association (“NACHA”). You may not originate ACH funds transfers through us unless you enter into a separate agreement with us for that service. Credit given to you with respect to an ACH credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making the payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry. NACHA rules require that all international payments made via the ACH network must be identified as an international ACH transaction (“IAT”). If an ACH transaction involving your account is an IAT transaction, deposits may be delayed due to required review processes for IAT transactions. This could result in funds not being available in your account as early as a domestic ACH transaction. Under the NACHA Rules, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.

ACH Transactions. For ATM and one-time debit card transactions, you must affirmatively consent to such coverage. Without your consent, we may not authorize and pay ATM or one-time debit card transaction that will result in insufficient funds in your account. If you have established a service linking your share or deposit account with other suffixes within your account, you authorize us to transfer funds from another suffix of yours to cover an insufficient item, including transfers from a share or deposit account or your Credit Card account if you so designate. Services and fees for these transactions are shown in the document we use to capture affirmative consent and in our Fee Schedule. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay such items that result in an insufficiency of funds in your account, we do not agree to pay them in the future and may discontinue coverage at any time without notice. If we pay these items or impose a fee that results in insufficient funds in your account, you agree to pay the insufficient amount, including the fee assessed by us, in accordance with our overdraft services or any other service you may have authorized with us, or if you not have such protections with us, in accordance with any overdraft payment policy we have, as applicable.

ACH Transactions. We may receive funds to or send funds from your Account by an Automated Clearing House (ACH) entry. You acknowledge and agree that the National Automated Clearing House Association (NACHA) Operating Rules, the rules of any local ACH, and the rules governing any other system accepting an ACH entry apply to and govern such transactions.

ACH Transactions. A. Debit Transactions At Your request, Karmeq will initiate an ACH debit from an account that You own at another financial institution for deposit into Your Investment Account with Karmeq. The financial institution holding Your external account must participate in the ACH system in order for Karmeq to initiate an ACH debit. One common name must match exactly between Your Karmeq Investment Account and your external account for the ACH transfer to be established. You authorize Karmeq to take such steps as it deems appropriate to verify Your ownership of the external account including by telling the bank at which such external account is held that You have authorized and consented to such bank disclosing to Karmeq any information that Karmeq may request about You or Your external account. You also agree to cooperate with Karmeq’s verification of Your ownership of such external account by promptly providing any identification or documentation that Karmeq may request regarding such external account. You warrant there are sufficient funds in the external account to cover the amount of the deposit to your Karmeq account. Karmeq will initiate the ACH debit to Your external account on the business day or next business day after you request the transfer. A transfer request will be deemed to have been made on a business day if it is received by Karmeq by 7:00 p.m. (Eastern Time) on such business day. If received after that time, the request will be processed on the next business day. Within 60 days of your ACH deposit, the funds can only be withdrawn and sent back to the external account from which such funds were debited. The following are reasons that the ACH debit transfer may be reversed or rejected: (i) insufficient funds in the external account (ii) duplicate transaction (iii) transaction is denied by the external account ban (iv) external account doesn’t support ACH transfers. You will incur a fee in the event of an ACH reversal and are solely liable and responsible for any reversal fees that You incur. B. Credit Transactions At your request, Karmeq will initiate an ACH credit to transfer funds from your Karmeq account to a recipient that you designate. You agree to have sufficient available funds in your Account to cover the amount of ACH credit requested. Karmeq will debit the amount of such request from your account on the business day or next business day after you request the transfer based on the aforementioned cutoff times for debit transfer requests.

ACH Transactions. General. Money can be credited to or debited from your Account because of ACH or other money transfer entries. These credits and debits are normally subject to additional rules of the money transfer system that processes them, such as the rules of the National Automated Clearing House Association and local ACH operating rules.

ACH Transactions. Under the operating rules of the National Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you. We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearings Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by laws of the state of New York as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION: These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

ACH Transactions. You may request Processor to convert your Internet Transactions into a format that can be processed by an automated clearing house (“ACH Transactions”). If Processor agrees, in writing, to provide that service, Processor and Bank will forward such transactions to the relevant automated clearing house (“ACH”) for processing. You will follow the procedures established by Processor and the ACH for ACH Transactions, which procedures are incorporated into this Agreement as if fully set forth herein. You authorize Processor and Bank to initiate ACH debits, credits, and adjustments to the Merchant Account. Confirmation from Processor of a credit or debit ACH Transaction does not constitute a representation, warranty or guaranty that You will be paid for the transaction. All terms of this Agreement shall apply to ACH Transactions.