Processing and Posting Orders. We may charge your account on the day that a check or other transaction is presented (or returned) to us directly or electronically for payment. We may charge your account or place a hold on funds at an earlier time if we receive notice that a check or other item deposited to your account is being returned. We process and post transactions in the order we received and processed. The debits are posted in the following order:
1. Non-check debits (such as ATM cash out, ACH, online banking, wire, etc.) and Check Cashing over the counter– in the order we receive them.
2. Checks that we received after hours through deposit process from other banks (Other checks) or from our ATM Deposit, RDC, and mobile deposit (On_Us), in this case, the order is: First, On_Us checks are processed, in check number order. Second, All other checks are processed, in check number order. If we receive an item for payment on a weekend, a holiday or after 5:00 p.m. on a Business Day, we may treat it as if it were received on the next Business Day. The cutoff hour for check processing with respect to our right of setoff is midnight of the business day following the business day on which we received the check or such later time by which we must return the check. The cutoff hour determines our obligation under state law to pay or return certain checks that have been received (but not finally paid) by us on the previous banking day.
Processing and Posting Orders. In what order do transactions post?
Processing and Posting Orders. Posting means that the deposit or credit is applied to your account balance. Items officially post during end of business day processing. Posting an item affects your "current balance." The current balance is the beginning-of-the-day balance after the prior business day's posting. The "available balance" is the amount you have in your account at a particular time that is available for immediate withdrawals or to cover other debit items. The available balance represents the difference between the current balance and any activity that has not yet posted to the account (e.g., any "pending" deposits, checks, transfers and withdrawals). Pending items are those debits and credits we have received, but have not yet settled and posted. Your available balance may be reduced by any holds on your account such as holds on deposits made to your account, levies, garnishments, or collateral pledges on loans. We may debit your account for a check or other item drawn on your account either on the day it is presented to us for payment, by electronic or other means, or on the day we receive notice that the item has been deposited for collection at another financial institution - whichever is earlier. If you do not have sufficient funds to cover the item, we will decide whether to return it or pay it, which may overdraw your account. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for non-sufficient funds at any time between the times we receive the item and when we return the item or send you a notice in lieu of return. We are required to determine your account balance only once during this time period. The order in which transactions are posted to your account impacts your account balance. Posting a credit increases your balance. Credits include deposits made in our branches, direct deposits, and other deposits or credits we make. Posting a debit decreases your balance. Debits include items such as withdrawals, transfers, payments, checks, debit card transactions, and fees. Notwithstanding any other provision in this or any other agreement or document, you agree that we may credit items to and debit items from your Account by using any method and order of posting which we choose in our sole, unilateral and absolute discretion. In choosing such a method, we may establish processing priorities for checks and other items. When we process multiple transactions for your account on the same day, we may group the...
Processing and Posting Orders. We may determine in our discretion the order that we process and post credits, debits and holds to your account. We may credit, authorize, accept, pay, certify, decline or return credits, debits and holds arriving to your account on the same day in any order at our option. We may change our processing and posting order at any time without notice to you. We may give reference to debits payable to us. On your account statement we do not necessarily report debits and credits in the order that we posted them to your account. As examples: Credits include teller deposits, direct deposits and credits we make. Debits include checks, debit card purchases, withdrawals (in- person, ATM, preauthorized and Online), payments, fees, charges and other items. Holds include deposit holds, debit card authorizations and holds related to cash withdrawals and electronic transfers. Debit Categories We may establish different categories for different types of debits, move debit types among categories, and determine posting orders within each category and among categories. A category may include more than one type of debit. As an example, we may treat ATM withdrawals and debit card purchases as one category, and checks as another category, and then process and post ATM withdrawals and debit card purchases before we process and post checks. Some categories may have different posting orders than other categories. We may change categories and orders within categories at any time without notice.
