Common use of Payments and Funds Verification Clause in Contracts

Payments and Funds Verification. You may schedule payments on the same date of your request ("Same Day Payments"), on a future date ("Future Payments"), or on a recurring basis ("Recurring Payments"). For each of the payment types, funds will be verified and withdrawn from your Account on the same day as the payment is scheduled. In the event the funds in your Account cannot be verified by Bank, then Bank may delay or cancel your scheduled payment(s) and/or Bank may send the payment requests through its exceptions processing procedures for further Funds Verification; any exceptions processing will be in Bank’s sole discretion. If your Account has insufficient funds, your payment may be delayed or cancelled and Bank shall have no liability for such delay or cancellation.

Payments and Funds Verification. You may schedule payments on the same date of your request ("“Same Day Payments"”), on a future date ("“Future Payments"”), or on a recurring basis ("“Recurring Payments"”). For each of the payment types, funds will be verified and withdrawn from your Account on the same day as the payment is scheduled. In the event the funds in your Account cannot be verified by Bank, then Bank may delay or cancel your scheduled payment(s) and/or Bank may send the payment requests through its exceptions processing procedures for further Funds Verification; any exceptions processing will be in Bank’s sole discretion. If your Account has insufficient funds, your payment may be delayed or cancelled canceled and Bank shall have no liability for such delay or cancellation.