Payment Order of Transactions Sample Clauses

Payment Order of Transactions. The order in which we process checks and other withdrawal orders (collectively, “items”) may also affect the total amount of overdraft and other fees that may be charged to your account. Items may not be processed in the order made. While we may choose to process Items in any order we choose, subject to applicable law, our general policy is to pay Items as we receive them. We typically receive Items to be processed against your accounts multiple times per day in what are referred to as presentment files. Each presentment file received contains a large amount of a specific type of Items (for example, checks, ACH, or ATM/Point of Sale (POS)). These presentment files may contain multiple Items to be processed against your account. In those cases where multiple Items are received at the same time, the Items will generally be paid as follows, subject to our reservation of right to pay checks and other withdrawal orders payable to the Credit Union first, as set forth in the Payment Authorization section of this Agreement: Checks are paid in order of the dollar amount, from lowest to highest. We will post credits from ACH files first, then debits by dollar amount, from lowest to highest. ATM/POS items are paid in the order they are presented. Checks cashed at our branch offices are generally paid when they are performed by a non-member payee. Our payment policy may cause your larger items not to be paid first (such as your rent or mortgage payment), but this payment order may reduce the amount of overdraft and other fees you have to pay if sufficient available funds are not available to pay all of your items. Please refer to the Payment Authorization section for additional terms for the payment order of items.
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Payment Order of Transactions. The order in which we process checks and other withdrawal orders (collectively, “Items”) may also affect the total amount of overdraft and other fees that may be charged to your Account. Items may not be processed in the order made. Our policy is to pay Items as we receive them. We typically receive Items to be processed against your Accounts multiple times per day in what are referred to as presentment files. Each presentment file contains a large amount of a specific type of Item (for example, checks, ACH, or ATM/Point-of-Sale (POS)). These presentment files may contain multiple Items to be processed against your Account. In those cases where multiple Items are received at the same time, the Items will be paid as presented in the file received. Checks are paid in order of presentment in the file. We will post credits from ACH files first, then ACH debits are paid in the order they are presented. ATM/POS Items are paid in the order they are presented. Transactions performed in person, such as withdrawals or checks cashed at our branch offices, are generally paid when they are performed. Please refer to the Payment Authorization section for additional terms regarding payment order of Items.
Payment Order of Transactions. The order in which we process checks and other withdrawal orders (collectively, “Items”) may affect the total amount of overdraft and other fees that may be charged to your Account. Items may not be processed in the order made. We may choose to process items in any order in keeping with applicable law. Usually, we pay items as we receive them. We receive items to be processed against your Accounts multiple times per day in what are referred to as presentment files. Each presentment file contains a large amount of a specific type of item, for example, checks, ACH, ATM, and Point-of Sale (POS). These presentment files may contain no items, one item or multiple items to be processed against your Account. Transactions performed in person, such as withdrawals or checks cashed at our branch offices, are paid as they are performed.

Related to Payment Order of Transactions

  • Settlement of Transactions 1. The Company shall proceed to a settlement of all transactions upon execution of such transactions.

  • Master Agreement Order of Precedence a. Any Order placed under this Master Agreement shall consist of the following documents:

  • Stop Payment Orders If you don t want us to pay a specific written instrument such as a personal check, you can ask us to place a Stop Payment Order or (“SPO”) on the instrument. You can notify us by mail, telephone, electronically, or in person. Any such instruction must be given to an employee of the Credit Union. Your SPO will take effect when we record it on your account. A SPO will not be valid and binding on us unless your SPO includes your account number, the number and date of the written instrument, the name(s) of the payee(s), and the exact amount of the instrument. Only the person placing the SPO may release the SPO. We will charge you a service charge for any SPO as set forth in the Schedule. If you give an oral SPO that is not confirmed in writing by you or us within fourteen (14) days, your SPO will expire and the instrument may thereafter be paid by us. If you provide written confirmation, your SPO will be effective for a period of six (6) months. Alternately, the Credit Union, in its sole discretion, may confirm any oral SPO in writing by sending a notice to the address shown in our records, but has no obligation to do so. Such written confirmation by us will also be effective for a period of six (6) months. To extend the SPO for an additional six (6) months, you must deliver to us an additional written request as described above. The Credit Union will not be responsible for any loss as a result of honoring a check: (1) more than fourteen (14) days after receipt of your oral order to stop payment; (2) more than six (6) months after your written order to stop payment, our written confirmation, or more than six (6) months after a written extension as provided herein; (3) through inadvertence, oversight or accident, we honor any postdated check; (4) if you fail to provide us with complete or accurate information; (5) or fail to meet your obligations as noted in this section or otherwise in this Agreement. We have no obligation to accept any order to stop payment on any certified check, cashier's check, teller's check or other instrument guaranteed by us. CASHIER S CHECKS: items as Code and reimbursement may not be made for 91-days for the date issued. You will be responsible to the Credit Union if any claim or demand is made against us as a result of our acting in accordance with your stop payment order. You agree that any stop payment order received when you do not have sufficient funds on deposit in your account to cover the item on which you are requesting us to stop payment shall be subject to a service charge for return of an NSF item rather than the service charge for a stop payment order.

  • Types of Transactions Purchases You may make purchases of goods and services with your account. You may make such purchases up to the amount of your available credit limit.

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

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