Payment of Checks Sample Clauses

Payment of Checks. The Credit Union is under no obligation to pay a check which is more than 6 months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. Funds Availability: Funds from deposits you make into your Checking Account may not always be immediately available. Refer to our Funds Availability disclosure for more details.

Payment of Checks. The Credit Union is under no obligation to pay a check that is more than 6 months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. All checks drawn on your Checking Account may be returned by us unpaid for any reason that checks are normally returned, such as, for example, insufficient available funds, uncollected funds, or litigation. We may disregard any information on any check other than the signature of the drawer, the amount, and any magnetic encoding. You agree that we do not fail to exercise ordinary care in paying an item solely because our procedures do not provide for sight examination of items. Postdated and Stale Dated Checks. We may pay any check without regard to its date unless you notify us of a postdating. The notice must be given to us in time so that we can notify our employees and reasonably act upon it. The notice must accurately describe the check, including the exact number, date and amount. You understand that the exact information is necessary for the Credit Union’s computer to identify the check. We are not responsible if you give us an incorrect or incomplete description or untimely notice. You may make an oral notice which lapses in fourteen (14) calendar days unless confirmed in writing. The Fee for a Notice of Postdating is the same as the fee for a Stop Payment Order; please refer to our Fee Schedule for the amount of the fee. A written notice is effective for six (6) months and may be renewed in writing from time to time. You agree not to deposit checks, drafts, or other items before they are properly payable. We are not obligated to pay a check drawn on your account that is presented more than six (6) months past its date. Remotely Created Checks. A remotely created check is a check created by someone other than the person on whose account the check is drawn. A remotely created check is generally created by a third-party payee as authorized by the owner of the account on which the check is drawn. Authorization is usually made over the telephone or through online communication. The account owner does not sign a remotely created check. In place of the owner’s signature, the remotely created check usually bears a statement that the owner authorized the check or bears the owner’s printer or typed name. If you wish to stop payment of a remotely created check, we may require you to close your account.

Payment of Checks. The Depositor will issue checks only against sufficient funds available in the Account. The Cooperative will not have the obligation of honoring checks issued against insufficient or uncollected funds and the Cooperative will not be in any way responsible of any damage resulting as a result thereof.

Payment of Checks. The Credit Union is under no obligation to pay a check that is more than 6 months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. All checks drawn on your Checking Account may be returned by us unpaid for any reason that checks are normally returned, such as, for example, insufficient funds, uncollected funds, or litigation. Overdrafts (NSF Transactions). The Credit Union is under no obligation, unless it has contracted to the contrary, to pay a check you have written or any other transaction presented Truncated Checks; Statements. Your canceled checks (the checks drawn against your account that we honor) will not be returned to you, they will become Credit Union property and be held by us (“truncated”) for you. They also may be truncated earlier in the check clearing process, such as by the bank into which the payee deposits them. This may be done either pursuant to a contractual electronic presentment process or under a federal law commonly referred to as “Check 21.” Your monthly statement will itemize your canceled checks by number, date of clearing and the amount of the check. Any objection respecting any item shown on a periodic statement is waived unless made in writing to the Credit Union within sixty (60) days after the statement is mailed. A copy of any check will be available to you as required by law. There may be a small fee to obtain a copy of a check (see the Fee Schedule for a list of fees). When a copy of a check is requested, the Credit Union may provide it to you in the form of a “substitute check” as prescribed in the “Check 21” law. Upon issuance, the Credit Union will provide you with a disclosure regarding your rights regarding substitute checks and how you may make a claim for a refund for losses related Stop Payments.

Payment of Checks. If we inadvertently pay a check for which an electronic stop payment order is effective, any service charges that result, including the stop payment fee, will be reversed and we will reimburse you for any Damages up to the amount of the check, provided you prove that you are not liable to the payee to whom the check was drawn. We may also seek recovery of the amount from the party who received the proceeds of the check, and you will assist us in doing so to the extent we reasonably request. Your obligations under this subsection

Payment of Checks. From and after the Closing Date, Buyer agrees to pay, to the extent of sufficient available funds on deposit, all properly drawn checks, drafts, and negotiable orders of withdrawal timely presented to it by mail, over its counters, or through clearings if such items are drawn by depositors whose Deposits or accounts on which such items are drawn are Deposits, whether drawn on the check or draft forms provided by Seller, for at least one hundred twenty (120) days after the Closing Date, or on those provided by Buyer. In addition, Buyer shall, in all other respects, discharge the duties, liabilities and obligations with respect to the Deposits to the extent such duties, liabilities or obligations occur following the Closing.

Payment of Checks. During check processing, information on a check other than the information appearing on the MICR line (i.e. bank number, account number and amount of the check) are not identified. Any statements such as "void if not paid in 30 days"; 2 signatures required"; "not valid in excess of $l00"; etc. do not appear on the MICR line and because of truncation and automatic processing will not be honored in the payment of these items. POSTDATED AND STALEDATED CHECKS OR DRAFTS: You agree not to issue any check or draft that is payable on a future date (postdated). If you do issue a check or draft that is postdated and we pay it before that date, you agree that we shall have no liability to you for such payment. You agree not to deposit checks, drafts, or other items before they are properly payable.

Payment of Checks. The Company agrees that FI may treat all issued checks as validly issued and properly payable and that FI may process such items for payment regardless of the Company’s use of the ARPP Services. All checks issued by the Company and cleared by FI are paid initially and then, based on exception criteria, presented to the Company as an Exception Item for which the Company must decide to pay or return. If the Company chooses to return the item, the transaction will be returned by the Bank with the notation “return to maker.” If FI decides to return the item this will not be reflected in the status of the check in the register where the status of the check will remain “paid”. The Company is responsible to use the ARPP Services and make a decision to pay or return an item within the designated cut-off times for exception processing. Cut-off times are defined on the Site. FI must receive the pay or return decision by the designated cutoff time otherwise the Exception Items shall be processed pursuant to the Company’s “default decision” provided during enrollment. If the item is re-submitted after such item is returned, it will be recognized as a duplicate “paid” item since the FI has already processed the item before. The Company will again be asked to decide to pay or return the item.

Payment of Checks. We will pay checks drawn on your account that are presented for payment on a banking day from other financial institutions in order from the smallest amount to the largest amount. This order of payment is designed to provide for the processing of checks in an orderly manner. We will pay any other transactions and charges in any order we determine. If there are not available funds in the account to pay all of the checks and other charges against the account (such as in-person withdrawals, ATM withdrawals, or by other electronic means) presented on a banking day, you agree to pay any insufficient funds fees, associated ACH fees or other fees disclosed in our Schedule of Consumer Account Charges that result based on our payment of checks in the order described in this paragraph and from our payment of other transactions and charges in any order we decide.

Payment of Checks. The Bank will pay checks drawn on Depositor's account and other charges (such as ATM withdrawals, bank fees, and preauthorized transfers) that are presented for payment on a banking day in any order. If there are not available funds in the account to pay all of the checks and other charges against the account (such as ATM withdrawals, bank fees, and preauthorized transfers) presented on a banking day, we may decide to return the items. You are responsible to cover any items that overdraw the account.