Common use of Actual and Available Balances Clause in Contracts

Actual and Available Balances. In order to accurately manage your checking account and avoid overdrafts and resulting fees, it is important to understand that your checking account has two kinds of balances: the “actual balance” and the “available balance.” Funds used to pay transactions may be limited based on the available balance. We use the available balance to determine if your account will be overdrawn. You can check the amount of your actual balance and your available balance when you review your account online, on the X.X.X. audio response system, at most ATMs, by phone, text banking or at an FCCU branch office. You must be enrolled in our electronic funds transfer services in order to check your balance through those systems. The actual balance of your account is the actual amount of money that is in your account at any given time. The actual balance reflects transactions that have been posted to your account. It does not reflect transactions that are pending. For example, if you have $50 in your account and you write a check for $40, then your actual balance remains at $50 until the check is posted to the account. The actual balance does not reflect the pending check while it is in transit to be settled with us. The actual balance also does not reflect items that have not yet been posted to your account, such as a remote deposit check that has been submitted for deposit and is under review. The available balance is that part of the actual balance that is available for you to use without incurring Overdraft Transfer or Overdraft Privilege fees. The available balance takes into account holds placed on account funds such as check deposit holds under our Funds Availability Policy, holds for pending debit card transactions that have been preauthorized but not yet posted, and legal holds. For example, if you have $50 in your account and you use your debit card at a restaurant for $20, then the merchant may ask us to preauthorize the payment. When that happens, we will place a hold on your account for $20 and your available balance will be $30, even though your actual balance will remain at $50 until the transaction posts or the hold is released. Funds subject to a hold are not available to pay checks, debit card, online xxxx payments, ACH, and other transactions. Please refer to the Electronic Fund Transfers Agreement and Disclosures for more information about debit card preauthorization holds. You should also keep in mind that the available balance may not always reflect all outstanding pending payments such as checks that you have written that are in transit. Additionally, the available balance may not always reflect outstanding debit card transactions. For example, if a merchant obtains our prior authorization but does not submit an everyday debit card transaction for payment within three business days of the preauthorization, we must release the hold. In such a case, the available balance will not reflect the outstanding transaction until we receive and post it to the account. As a result, you must carefully track of all of your transactions to ensure you have sufficient funds available in your checking or other applicable account when the transactions are presented to us. Failure to do so may cause you to incur overdraft fees.

Actual and Available Balances. In order to accurately manage your checking account and avoid overdrafts and resulting fees, it is important to understand that your checking account has two kinds of balances: the “actual balance” and the “available balance.” Funds used to pay transactions may be limited based on the available balance. We use the available balance to determine if your account will be overdrawn. You can check the amount of your actual balance and your available balance when you review your account online, on the X.X.X. audio response system, at most ATMs, by phone, text banking or at an FCCU branch office. You must be enrolled in our electronic funds transfer services in order to check your balance through those systems. The actual balance of your account is the actual amount of money that is in your account at any given time. The actual balance reflects transactions that have been posted to your account. It does not reflect transactions that are pending. For example, if you have $50 in your account and you write a check for $40, then your actual balance remains at $50 until the check is posted to the account. The actual balance does not reflect the pending check while it is in transit to be settled with us. The actual balance also does not reflect items that have not yet been posted to your account, such as a remote deposit check that has been submitted for deposit and is under review. The available balance is that part of the actual balance that is available for you to use without incurring Overdraft Transfer or Overdraft Privilege fees. The available balance takes into account holds placed on account funds such as check deposit holds under our Funds Availability Policy, holds for pending debit card transactions that have been preauthorized but not yet posted, and legal holds. For example, if you have $50 in your account and you use your debit card at a restaurant for $20, then the merchant may ask us to preauthorize the payment. When that happens, we will place a hold on your account for $20 and your available balance will be $30, even though your actual balance will remain at $50 until the transaction posts or the hold is released. Funds subject to a hold are not available to pay checks, debit card, online xxxx bill payments, ACH, and other transactions. Please refer to the Electronic Fund Transfers Agreement and Disclosures for more information about debit card preauthorization holds. You should also keep in mind that the available balance may not always reflect all outstanding pending payments such as checks that you have written that are in transit. Additionally, the available balance may not always reflect outstanding debit card transactions. For example, if a merchant obtains our prior authorization but does not submit an everyday debit card transaction for payment within three business days of the preauthorization, we must release the hold. In such a case, the available balance will not reflect the outstanding transaction until we receive and post it to the account. As a result, you must carefully track of all of your transactions to ensure you have sufficient funds available in your checking or other applicable account when the transactions are presented to us. Failure to do so may cause you to incur overdraft fees.

Actual and Available Balances. In order to accurately manage your checking account and avoid overdrafts and resulting fees, it is important to understand that your checking account has two kinds of balances: the “actual balance” and the “available balance.” Funds used to pay transactions may be limited based on the available balance. We use the available balance to determine if your account will be overdrawn. You can check the amount of your actual balance and your available balance when you review your account online, on the X.X.X. audio response system, at most ATMs, by phone, text banking or at an FCCU branch office. You must be enrolled in our electronic funds transfer services in order to check your balance through those systems. The actual balance of your account is the actual amount of money that is in your account at any given time. The actual balance reflects transactions that have been posted to your account. It does not reflect transactions that are pending. For example, if you have $50 in your account and you write a check for $40, then your actual balance remains at $50 until the check is posted to the account. The actual balance does not reflect the pending check while it is in transit to be settled with us. The actual balance also does not reflect items that have not yet been posted to your account, such as a remote deposit check that has been submitted for deposit and is under review. The available balance is that part of the actual balance that is available for you to use without incurring Overdraft Transfer or Overdraft Privilege fees. The available balance takes into account holds placed on account funds such as check deposit holds under our Funds Availability Policy, holds for pending debit card transactions that have been preauthorized but not yet posted, and legal holds. For example, if you have $50 in your account and you use your debit card at a restaurant for $20, then the merchant may ask us to preauthorize the payment. When that happens, we will place a hold on your account for $20 and your available balance will be $30, even though your actual balance will remain at $50 until the transaction posts or the hold is released. Funds subject to a hold are not available to pay checks, debit card, online xxxx payments, ACH, and other transactions. Please refer to the Electronic Fund Transfers Agreement and Disclosures for more information about debit card preauthorization holds. You should also keep in mind that the available balance may not always reflect all outstanding pending payments such as checks that you have written that are in transit. Additionally, the available balance may not always reflect outstanding debit card transactions. For example, if a merchant obtains our prior authorization but does not submit an everyday debit card transaction for payment within three business days of the preauthorization, we must release the hold. In such a case, the available balance will not reflect the outstanding transaction until we receive and post it to the account. As a result, you must carefully track of all of your transactions to ensure you have sufficient funds available in your checking or other applicable account when the transactions are presented to us. Failure to do so may cause you to incur overdraft fees.

Actual and Available Balances. In order to accurately properly manage your checking account and Checking Account to avoid overdrafts and resulting fees, it is important to understand that your checking account Checking Account has two kinds of balances: the “actual balance” and the “available balance.” Funds used to pay your transactions may be limited based on the available balance. We use the available balance to determine if your account Account will be overdrawn. You can check the amount of your actual balance and your available balance when you review your account onlineAccount online through our home banking and mobile banking systems, on the X.X.X. using our audio response system, at most ATMs, and by phone, text banking calling us or at an FCCU visiting a branch office. You must be enrolled in our the foregoing electronic funds fund transfer services in order to check your balance through those systemsservices. The actual balance of your account Account is the actual amount of money that is in your account Account at any given time. The actual balance reflects transactions that have been posted to your accountAccount. It does not reflect transactions that are pending. For example, if you have $50 in your account Account and you write a check for $40, then your actual balance remains at $50 until the check is presented and posted to the accountAccount. The actual balance does not reflect the pending check while it is in transit to be settled with us. The actual balance also does not reflect other items that have not yet been posted to your accountAccount, such as a remote deposit remotely deposited check that has been submitted for deposit and is under review. The available balance is that part of the actual balance that is available for you to use without incurring Share Overdraft Transfer Protection Transfers or Overdraft Privilege Courtesy Pay fees. The available balance takes into account holds placed on account Account funds such as check deposit holds under our Funds Availability Policy, holds for pending debit check card transactions that have been preauthorized but not yet posted, and legal holds. For example, if you have $50 in your account Account and you use your debit check card at a restaurant for $20, then the merchant may ask us to preauthorize the $20 payment. When that happens, we will place a hold on your account Account for $20 and your available balance will be reduced to $30, even though your actual balance will remain at $50 until the transaction posts or the hold is released. Funds subject to a hold are not available to pay checks, debit check card, online xxxx bill payments, ACH, and other transactions. Please refer to the Electronic Fund Transfers Agreement and Disclosures for more information about debit check card preauthorization holds. You should also keep in mind that the available balance may not always reflect all outstanding pending payments such as checks that you have written that are in transithave not cleared on your Account. Additionally, the available balance may not always reflect outstanding debit card transactions. For example, if a merchant obtains our prior authorization but does not submit an everyday debit a one-time check card transaction for payment within three business days of the preauthorization, we must release the hold. In such a case, the available balance will not reflect the outstanding transaction until we receive it and post it to the accountAccount. As a result, you must carefully track of all of your transactions to ensure you have sufficient funds available in your checking or other applicable account Checking Account when the transactions are presented to us. Failure to do so may cause you to incur overdraft fees.

Actual and Available Balances. In order to accurately manage your checking account and avoid overdrafts and resulting fees, it is important to understand that your checking account has two kinds of balances: the “actual balanceActual Balance” and the “available balanceAvailable Balance.” Funds used to pay transactions may be limited based on the available balanceAvailable Balance. We use the available balance Available Balance to determine if your account will be overdrawn, which occurs when the Available Balance is below zero. You can check the amount of your actual balance Actual Balance and your available balance Available Balance when you review your account online, on the X.X.X. audio response system, at most ATMs, by phone, text banking or at an FCCU branch office. You must be enrolled in our electronic funds transfer services in order to check your balance through those systems. The actual balance Actual Balance of your account is the actual amount of money that is in your account at any given time. The actual balance Actual Balance reflects transactions that have been posted to your account. It does not reflect transactions that are pendingpending transactions. For example, if you have $50 50.00 in your account and you write a check for $4040.00, then your actual balance Actual Balance remains at $50 50.00 until the check is posted to the account. The actual balance Actual Balance does not reflect the pending check while it is in transit to be settled with us. The actual balance Actual Balance also does not reflect items that have not yet been posted to your account, such as a remote deposit check that has been submitted for deposit and is under review. The available balance Available Balance is that part of the actual balance Actual Balance that is available for you to use without incurring Overdraft Transfer or Overdraft Privilege fees. The available balance Available Balance takes into account holds placed on account funds such as check deposit holds under our Funds Availability Policy, holds for pending debit card transactions that have been preauthorized but not yet posted, and legal holds. For example, if you have $50 50.00 in your account and you use your debit card at a restaurant for $2020.00, then the merchant may ask us to preauthorize the payment. When that happens, we will place a hold on your account for $20 20.00 and your available balance Available Balance will be $3030.00, even though your actual balance Actual Balance will remain at $50 50.00 until the transaction posts or the hold is released. Funds subject to a hold are not available to pay checks, debit card, online xxxx bill payments, ACH, and other transactions. Please refer to the Electronic Fund Transfers Transfer Services Agreement and Disclosures for more information about debit card preauthorization holds. You should also keep in mind that the available balance Available Balance may not always reflect all outstanding pending payments such as checks that you have written that are in transit. Additionally, the available balance Available Balance may not always reflect outstanding debit card transactions. For example, if a merchant obtains our prior authorization but does not submit an everyday debit card transaction for payment within three business days of the preauthorization, we must release the hold. In such a case, the available balance Available Balance will not reflect the outstanding transaction until we receive and post it to the account. As a result, you must carefully track of all of your transactions to ensure you have sufficient funds available in your checking or other applicable account has a sufficient Available Balance when the transactions are presented to us. Failure to do so may cause you to incur overdraft fees.

Actual and Available Balances. In order to accurately properly manage your checking account and Checking Account to avoid overdrafts and resulting fees, it is important to understand that your checking account Checking Account has two kinds of balances: the “actual balance” and the “available balance.” Funds used to pay your transactions may be limited based on the available balance. We use the available balance to determine if your account Account will be overdrawn. You can check the amount of your actual balance and your available balance when you review your account Account online, on the X.X.X. audio response system, at most ATMsATM/ITMs, and by phone, text banking calling us or at an FCCU visiting a branch office. You must be enrolled in our a respective electronic funds fund transfer services service in order to check your balance through those systemswith that service. The actual balance of your account Account is the actual amount of money that is in your account Account at any given time. The actual balance reflects transactions that have been posted to your accountAccount. It does not reflect transactions that are pending. For example, if you have $50 in your account Account and you write a check for $40, then your actual balance remains at $50 until the check is presented and posted to the accountAccount. The actual balance does not reflect the pending check while it is in transit to be settled with us. The actual balance also does not reflect other items that have not yet been posted to your accountAccount, such as a remote deposit remotely deposited check that has been submitted for deposit and is under review. The available balance is that part of the actual balance that is available for you to use without incurring Overdraft Protection Transfer or Overdraft Privilege NRP fees. The available balance takes into account holds placed on account Account funds such as check deposit holds under our Funds Availability Policy, holds for pending debit card transactions that have been preauthorized but not yet posted, and legal holds. For example, if you have $50 in your account Account and you use your debit card at a restaurant for $20, then the merchant may ask us to preauthorize the $20 payment. When that happens, we will place a hold on your account Account for $20 and your available balance will be reduced to $30, even though your actual balance will remain at $50 until the transaction posts or the hold is released. Funds subject to a hold are not available to pay checks, debit card, online xxxx bill payments, ACH, and other transactions. Please refer to the Electronic Fund Transfers Agreement and Disclosures for more information about debit card preauthorization holds. You should also keep in mind that the available balance may not always reflect all outstanding pending payments such as checks that you have written that are in transit. Additionally, the available balance may not always reflect outstanding debit card transactions. For example, if a merchant obtains our prior authorization but does not submit an everyday a one-time debit card transaction for payment within three business days of the preauthorization, we must release the hold. In such a case, the available balance will not reflect the outstanding transaction until we receive it and post it to the accountAccount. As a result, you must carefully track of all of your transactions to ensure you have sufficient funds available in your checking Checking or other applicable account Account when the transactions are presented to us. Failure to do so may cause you to incur overdraft fees.