Drawn on Your Account Clause Samples

Drawn on Your Account. We may debit your account for an item drawn on your account either on the day it is presented to us for payment or on the day we receive notice that the item has been deposited for collection at another financial institution - whichever is earlier. If you do not have sufficient available funds to cover the item, we will decide whether to return it or to pay it and overdraw your account. We may determine your balance and make our decision on an insufficient funds item at any time between our receipt of the item or notice and the time we must return the item. We are required to determine your account balance only once during this time period. You should promptly review all notices, account statements and other communications (hereafter referred to as “communications”) we send you. Many communications will inform you of changes affecting your rights and obligations. When we send communications we may: • address notices to one account owner; • destroy communications that are sent to you and returned to us as being undeliverable, along with any accompanying items; • authorize the post office or an agent to destroy communications along with items that the post office informs us are undeliverable; • send communications to you at the electronic or street address we have in our records for your account; and • stop sending communications to you until a new address is provided to us if we reasonably believe that the address we have in our records for your account is wrong. We are not responsible for communications lost while not in our possession. When we inform you of changes affecting your accounts, rights and obligations, we do so by delivering or making the communication available to you. In some cases, we may post a notice of a change on our website. Otherwise, we may mail the communication regarding a change to you at the address currently in our records or via text message, e- mail, secure messaging or other means (if you have agreed to such method). We may provide a communication as a message on your statement or as a statement insert. If a communication of a change is returned to us as undeliverable, or if we stop sending communications to you because previous communications (including account statements) we sent you were returned to us as undeliverable, you understand that copies of such communications can be requested from us by calling ▇▇▇- ▇▇▇-▇▇▇▇. You agree to these methods of delivery and that changes covered in these communications are effective and ...