Common use of Electronic Deposits to Your Account Clause in Contracts

Electronic Deposits to Your Account. When we receive an electronic deposit to your Account, the credit is provisional pending final settlement. If the sending bank tells us that the electronic deposit was a mistake or was intended for another depositor, we may rely on that notice and deduct the funds from your Account. We provide notice of incoming electronic deposits on your regular periodic statement.

Electronic Deposits to Your Account. When we receive an electronic deposit to your Account, the credit is provisional pending final settlement. If the sending bank tells us that the electronic deposit was a mistake or was intended for another depositor, we may rely on that notice and deduct the funds from your AccountAccount at any time. We provide notice of incoming electronic deposits on your regular periodic statement.