Common use of Closing Accounts Clause in Contracts

Closing Accounts. Credits and debits individually or together may be referred to as “Transactions.” You may close your account (excluding a certificate of deposit account) at any time and for any reason after we have received final settlement on all items deposited by you, except that we are not required to close your account at your request if you have pending Transactions, the account is overdrawn, or your account is subject to legal process (such as a garnishment, attachment, execution, levy or similar order). We may close your account at any time and for any reason. We also reserve the right, in our discretion, to refuse additional deposits and/or to discontinue or limit the practice of allowing checks, transfers or withdrawals. If we elect to take one (1) of the preceding actions, we will notify you, if required by law. We will not be liable for dishonoring items after notifying you that we have taken one (1) of these actions. If your account is closed, we may issue a check for the balance in the account. You must pay unpaid fees and charges when your account is closed. In the event your account is closed, you are responsible for contacting third parties you have authorized to make deposits to or transfers from your account. In addition to the foregoing, although we are not obligated to do so, if we determine that an unauthorized Transaction has occurred or been attempted with respect to your account, we may freeze activity on your account or we may close the account, reopen a new account on the same terms, and so note the same on our records. After your account is closed, you remain obligated to comply with all terms of this Agreement relevant to anything that relates to or arises out of an occurrence prior to account closure. You specifically agree to reimburse us for the amount of all subsequent claims concerning items deposited prior to account closure (including subsequent warranty claims and returns of those items).

Closing Accounts. Credits and debits individually or together may be referred to as “Transactions.” You may close your account (excluding a certificate of deposit account) at any time and for any reason after we have received final settlement on all items deposited by you, except that we are not required to close your account at your request if you have pending Transactions, the account is overdrawn, or your account is subject to legal process (such as a garnishment, attachment, execution, levy or similar order). We may close your account at any time and for any reason. We also reserve the right, in our discretion, to refuse additional deposits and/or to discontinue or limit the practice of allowing checks, transfers or withdrawals. If we elect to take one (1) of the preceding actions, we will notify you, if required by law. We will not be liable for dishonoring items after notifying you that we have taken one (1) of these actions. If your account is closed, we may issue a check for the balance in the account. You must pay unpaid fees and charges when your account is closed. In the event your account is closed, you are responsible for contacting third parties you have authorized to make deposits to or transfers from your account. In addition to the foregoing, although we are not obligated to do so, if we determine that an unauthorized Transaction has occurred or been attempted with respect to your account, we may freeze activity on your account or we may close the account, reopen a new account on the same terms, and so note the same on our records. After your account is closed, you remain obligated to comply with all terms of this Agreement relevant to anything that relates to or arises out of an occurrence prior to account closure. You specifically agree to reimburse us for the amount of all subsequent claims concerning items deposited prior to account closure (including subsequent warranty claims and returns of those items).