Electronic Returned Check Charge Clause Samples
The Electronic Returned Check Charge clause establishes a fee that will be imposed if a payment made by electronic check is returned or dishonored by the bank. Typically, this applies when a customer attempts to pay electronically and the transaction fails due to insufficient funds or incorrect account information. By specifying this charge, the clause deters payment issues and compensates the payee for administrative costs associated with handling returned payments.
Electronic Returned Check Charge. You may authorize a merchant or other payee to initiate an electronic fund transfer to collect a charge in the event a check is returned for insufficient funds.
Electronic Returned Check Charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds. • Wire Transfers: You may arrange for us to complete the following wire transfers: o Domestic: Pay a designated recipient(s) in the United States from your checking or savings account. o International: Pay designated recipient(s) in a foreign country from your checking or savings account. • Withdraw cash from your checking or savings account(s). You may withdraw up to $500.00 per day (or previously approved exception limit if applicable). • Transfer funds between your checking and savings accounts whenever you request. • Obtain balance information on checking and savings accounts. Some of these services may not be available at all terminals. Online Banking: You may access your account(s) through the internet by logging in through our website at ▇▇▇.▇▇.▇▇▇ and using your login and password to: • Transfer funds between your checking and savings accounts whenever you request. • Obtain account information on checking and savings accounts.
Electronic Returned Check Charge. You may authorize a merchant or other payee to initiate an
Electronic Returned Check Charge. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account for fees associated with a returned check. You may arrange for certain direct deposits to be accepted into your checking or savings accounts. You may access your checking account(s) by VISA Debit Card to pay for purchases from merchants who have agreed to accept the card at Point-of-Sale
Electronic Returned Check Charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds. Certain limitations apply to such transfers, for example:
a) Any preauthorized debit or credit is subject to a written agreement between the customer and the party, or organization issuing or receiving payment.
b) If you have a Money Market or savings account, Federal Regulation D limits all preauthorized transfers, including those done automatically, to a maximum of six per month. No more than three of the six transfers may be made by check, draft or debit card to a third party. The bank’s business days shall be considered Monday through Friday, excluding federal holidays.