Posting Order; Balances Clause Samples
The "Posting Order; Balances" clause defines the sequence in which a bank or financial institution processes transactions and updates account balances. Typically, this clause outlines the order in which credits and debits are posted to an account, which can affect the calculation of available funds and the assessment of fees such as overdraft charges. By specifying the posting order, the clause ensures transparency for account holders and helps prevent disputes over transaction processing, ultimately providing clarity and predictability regarding account management.
Posting Order; Balances. Creditswill post to an Account first followed bydebits in the following order; Company initiated adjustments, wire transfers, internal transfers, Company bill pay transactions, ATM transactions, PIN based point of sale transactions in amount order from lowest to highest, signature based point of sale transactions in amount order from lowest to highest, ACHwithdrawalsin amountorderfrom lowestto highest andchecks in dollaramounts from lowest to highest. For informationon when fees and service charges will be applied to your Account, please reference your Fee Schedule. It should be recognized that as transactions are received or noted as pending throughoutthe day,theymaybe reordered atnightlyreconciliation.
Posting Order; Balances. This Section summarizes the general order some common Items are paid from an Account. Credits will post to an Account first followed by debits in the following order; cash transactions, FSB initiated adjustments, wire transfers, telephone transfers, internal transfers, FSB bill pay transactions, ATM transactions, PIN based point of sale transactions in amount order from lowest to highest, signature based point of sale transactions in amount order from lowest to highest, ACH withdrawals in amount order from lowest to highest and checks in dollar amounts from lowest to highest. In the event that more than one check is presented for the same dollar amount, we will post those checks in check number order from lowest to highest. For information on when fees and service charges will be applied to your Account, please reference your Fee Schedule. It should be recognized that as transactions are received or noted as pending throughout the day, they may be reordered at nightly reconciliation. Overdrah Item Fees will be paid from an Account immediately following the transaction that results in an Overdrah.
Posting Order; Balances