Common use of Our Right to Refuse Deposits Clause in Contracts

Our Right to Refuse Deposits. We may refuse to accept a deposit or any part of a deposit at any time, even after initially accepting it. We will not be liable to you for refusing a deposit, even if it causes us to decline any transactions you have already made. If we refuse a deposit, we may accept a Check on a “collection basis,” which means that we will not credit your Account with the funds until we receive payment from the payor’s financial institution. If we accept a Check on a “collection basis,” we will impose a fee in connection with sending and receiving that Item for collection, whether or not the Item is paid. The institution upon which the Item is drawn may also charge a fee in connection with the collection. See the Fee Schedule for fees that may apply to Clean Check Collections services.

Our Right to Refuse Deposits. We may refuse to accept a deposit or any part of a deposit at any time, even after initially accepting it. We will not be liable to you for refusing a deposit, even if it causes us to decline any transactions you have already made. If we refuse a deposit, we may accept a Check on a “collection basis,” which means that we will not credit your Account with the funds until we receive payment from the payor’s financial institution. If we accept a Check on a “collection basis,” we We will impose a fee in connection with sending and receiving that an Item for collection, whether or not the Item is paid. The institution upon which the Item is drawn may also charge a fee in connection with the collection. See the Fee Schedule for fees that may apply to Clean Check Collections services.