Checks Lost During Collection Clause Samples
Checks Lost During Collection. If a check is lost during the collection process, FSB may charge your account for the amount of the check. If the financial institution on which the check is drawn gives FSB a photocopy of the check or a debit slip representing the check, FSB may charge your account for the amount of the check. A lost check may not be returned to FSB for some time. Despite any delay, FSB may charge your account when FSB receives either the returned check, a copy of the check, or a notice of return. FSB may accept certain items – such as certain securities and checks payable in foreign currencies or at foreign locations – on a collection basis only. FSB routes and processes collection items separately. FSB normally credits your account for collection items only after FSB receives payment for them. If FSB credits your account and then does not receive payment, FSB may debit your account for the amount of the item. FSB may charge fees for processing collection items. These fees apply even if the collection item is returned unpaid. See the current Service Fee Schedule for current collection fees. The financial institution on which the collection item is drawn may also charge you fees. If the other financial institution requires payment of a fee before that institution will process the collection item, FSB may pay the fee and charge your account. Otherwise, the other financial institution may subtract its fee from the amount of the payment FSB receives. These fees also may apply even if the collection item is returned unpaid.
Checks Lost During Collection. If a check is lost during the collection process, the Bank may charge your account for the amount of the check. If the financial institution on which the check is drawn gives the Bank a photocopy of the check or a debit slip representing the check, the Bank may charge your account for the amount of the check. A lost check may not be returned to the Bank for some time. Despite any delay, the Bank may charge your account when the Bank receives either the returned check, a copy of the check, or a notice of return.
Checks Lost During Collection. If a check is lost during the collection process, USB may charge your account for the amount of the check. If the financial institution on which the check is drawn gives USB a photocopy of the check or a debit slip representing the check, USB may charge your account for the amount of the check. A lost check may not be returned to USB for some time. Despite any delay, USB may charge your account when USB receives either the returned check, a copy of the check, or a notice of return. USB may accept certain items – such as certain securities and checks payable in foreign currencies or at foreign locations – on a collection basis only. USB routes and processes collection items separately. USB normally credits your account for collection items only after USB receives payment for them. If USB credits your account and then does not receive payment, USB may debit your account for the amount of the item. USB may charge fees for processing collection items. These fees apply even if the collection item is returned unpaid. See the current Service Fee Schedule for current collection fees The financial institution on which the collection item is drawn may also charge you fees. If the other financial institution requires payment of a fee before that institution will process the collection item, USB may pay the fee and charge your account. Otherwise, the other financial institution may subtract its fee from the amount of the payment USB receives. These fees also may apply even if the collection item is returned unpaid.