Payment Order of Your Transactions. To assist you in handling your account(s) with us, we are providing you with the following information regarding how we process the items that you authorize. When processing items drawn on your account, our policy is to pay them as we receive them. We commonly receive items to be processed against your account(s) multiple times per day in what is referred to as presentment files. Each presentment file received commonly contains a large amount of a specific type of item (Check, ACH, or ATM/POS). It is common for each of these presentment files to contain multiple items to be processed against your particular account. In this case, when multiple items are received at once, the items will be paid as follows: checks are paid in order of check amount, lowest to highest; ACH items in each presentment file post credits first, then debits paid by dollar amount, lowest to highest, and generally we will receive up to four ACH presentment files per day. ATM/POS items are paid in the order they are presented. Items performed in person such as withdrawals or checks cashed at one of our locations or a shared branch, are generally paid at the time they are performed. WHY THIS IS IMPORTANT TO YOU: The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. Our payment policy may cause your larger, and perhaps more important, items to not be paid first (such as your rent or mortgage payment), but may reduce the amount of overdraft or NSF fees you have to pay if funds are not available to pay all of the items. Please note that items are paid from the “available balance” in your account (as defined in paragraph 14a above). The actual balance in your account may be higher than the Available Balance, because a portion of the funds on deposit in your account may not be available due to debits authorized but not yet cleared. If an item is presented without sufficient available funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere in this Agreement and/or our Fee Schedule. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts, or performing debit or other withdrawal orders, without sufficient available funds and incurring the resulting fees. For more information please refer to the Discretionary ...
Payment Order of Your Transactions. To assist you in handling your account(s) with us, we are providing you with the following information regarding how we process the items that you authorize. When processing items drawn on your account, our policy is to pay them as we receive them. We commonly receive items to be processed against your account(s) multiple times per day in what is referred to as presentment files. Each presentment file received commonly contains a large amount of a specific type of item (Check, ACH, or ATM/POS). It is common for each of these presentment files to contain multiple items to be processed against your particular account. In this case, when multiple items are received at once, the items will be paid as follows: checks are paid in order of check number, lowest to highest; ACH items in each presentment file post credits first, then debits paid by dollar amount, lowest to highest, and generally we will receive up to four ACH presentment files per day; ATM/POS items are paid in the order they are presented. Items performed in person such as withdrawals or checks cashed at one of our locations or a shared branch, are generally paid at the time they are performed. Why this is
Payment Order of Your Transactions. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you write. When processing items drawn on your account, our policy is to pay them as we receive them. We commonly receive items to be processed against your account(s) multiple times per day. Items performed in person such as withdrawals or checks cashed at one of our locations or a shared branch, are generally paid at the time they are performed. Why this is Important to You: The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed in our Fee Schedule. We encourage you to take careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.
Payment Order of Your Transactions. To assist you in handling your account(s) with the Credit Union, we are providing you with the following information regarding how we process the items you authorize. When processing items drawn on your account, our policy is to pay them as we receive them. We commonly receive items to be processed against your account(s) multiple times per day in what is referred to as presentment files. Each presentment file received by us commonly contains a large amount of a specific type of item (for example, check, ACH, ATM, or POS transaction). It is common for each of these presentment files to contain multiple items to be processed against your particular account. For ACH entries and checks received in batch files, the Credit Union posts in the following manner: • Posting of that day’s ACH credits is followed by ACH debits, followed by checks. • ACH debits are processed in the order received. Several files are received each day and the files are posted in the order in which we receive them. • Checks are processed in the order received and then in numerical order. The order in which items are presented may affect the fees assessed to your account. Most transactions post when you conduct them. The following transactions generally post real-time or very near real-time from when you conducted them include: • Transactions you conduct at our teller counters such as deposits*, withdrawals and cashing on-us checks. • Transactions you conduct at CO-OP Shared Branching locations*. • Your ATM deposits* and withdrawals. • Your debit card purchases conducted with a PIN. • Authorizations (holds) on your debit card purchases conducted using the VISA network. ** • Transfers you conduct using telephone banking, online banking, or mobile banking. * Note that funds availability rules apply, and funds deposited on a real-time basis may not be made available immediately. For example, checks you deposit may be subject to uncollected funds holds. See our Funds Availability Policy Disclosure and CO-OP Shared Branching rules for details. ** The corresponding settlements may lag hours or days based on when the merchants submit them. We post settlement transactions at the time we receive them. The order in which items are paid is important if there is not enough money in your account to pay for all of the items presented. Our payment policy may cause your larger, and perhaps more important, items, not to be paid first (such as your rent or mortgage payment). If an item is presented without ...
Payment Order of Your Transactions. To assist you in handling your account(s) with us, we are providing you with the following information regarding how we process the items that you authorize. When processing items drawn on your account, our policy is to pay them as we receive them. We commonly receive items to be processed against your account(s) multiple times per day in what is referred to as presentment files. Each presentment file received commonly contains a large amount of a specific type of item (Check, ACH, or ATM/POS). It is common for each of these presentment files to contain multiple items to be processed against your particular account. In this case, when multiple items are received at once, the items will be paid as follows: checks are paid in order of check number, lowest to highest; ACH items in each presentment file post credits first, then debits paid by dollar amount, lowest to highest, and generally we will receive up to four ACH presentment files per day; ATM/POS items are paid in the order they are presented. Items performed in person such as withdrawals or checks cashed at one of our locations or a shared branch, are
Payment Order of Your Transactions. Added the following sentence to the below section: Why this is Important to You: The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. If an item is presented and the Available Balance in your account is not sufficient to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). Any item or transaction can be presented for payment multiple times, which is beyond the control of the Credit Union. Each presentment will be charged a separate fee even though it may be for a repeat presentment. The amounts of the overdraft and NSF fees are disclosed in the Schedule. We encourage you to make careful records and practice good account management.
