Provisional ACH Payments. The Credit Union may, in its discretion, give you credit for ACH payments before it receives final settlement of the funds transfer. Any such credit is provisional until the Credit Union receives final settlement of the payment. You are hereby notified and agree that if the Credit Union does not receive such final settlement, it is entitled to a refund from you of the amount credited to you in connection with that ACH entry. This means that the Credit Union may provide you with access to ACH funds before the Credit Union actually receives the money. However, if the Credit Union does not receive the money, then the Credit Union may reverse the entry on your account and you would be liable to repay the Credit Union.
Appears in 2 contracts
Samples: Electronic Fund Transfers Disclosure and Agreement, Business Funds Transfer Agreement
Provisional ACH Payments. The Credit Union may, in may at its discretion, discretion give you credit for ACH automated clearinghouse (ACH) payments before it receives final settlement of the funds transfer. Any such credit is provisional until the Credit Union receives final settlement of the payment. You are hereby notified and agree that agree, if the Credit Union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry. This means that the Credit Union may provide you with access to ACH funds before the Credit Union actually receives the money. However, if the Credit Union does not receive the money, then the Credit Union may reverse the entry on your account and you would be liable to repay the Credit Union.
Appears in 2 contracts
Samples: Electronic Services, Atm and Mastercard Debit Card Disclosure and Agreement, Electronic Funds Transfer Agreement
Provisional ACH Payments. The Credit Union may, in may at its discretion, discretion give you credit for ACH Automated Clearing House (ACH) payments before it receives final settlement of the funds transfer. Any such credit is provisional until the Credit Union receives final settlement of the payment. You are hereby notified and agree that agree, if the Credit Union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry. This means that the Credit Union may provide you with access to ACH funds before the Credit Union actually receives the money. However, if the Credit Union does not receive the money, then the Credit Union may reverse the entry on your account and you would be liable to repay the Credit Union.
Appears in 2 contracts
Samples: Member Account Agreements and Disclosures, Member Account Agreements and Disclosures
