Common use of Electronic Presentment/Posting Clause in Contracts

Electronic Presentment/Posting. We may charge your account on the day that a check or other transaction is presented (or returned) to us directly or electronically for payment. We may charge your account or place a hold on funds at an earlier time if we receive notice that a check or other item deposited to your account is being returned, or if we receive notice that your check or electronic payment (e.g., at a point-of-sale) is being processed for collection.

Electronic Presentment/Posting. We may charge your account on the day that a check or other transaction is presented (or returned) to us directly or electronically for payment. We may also charge your account or place a hold on funds at an earlier time if we receive notice that a check an item or other item deposited to your account is being returned, or if we receive notice that your check or electronic payment (e.g., at a point-of-sale) transaction is being processed against your account by a payee. This could affect the balance available in your account to cover other transactions. We are not responsible for collectiondamages or wrongful dishonor if any item is not paid because of insufficient funds resulting from these procedures.