Common use of Item Clearing Practices Clause in Contracts

Item Clearing Practices. GFA Federal Credit Union will clear checks, as presented daily, in check number order. Items that clear through the Automated Clearing House (ACH) are as follows: Credits are posted first, largest to smallest then debits are posted smallest to largest. Automated Teller Machine (ATM) and Point of Sale (POS) transactions are posted in real-time as they occur.