Provisional Payment. Credit we give you with respect to an ACH credit entry is provisional until we receive the final settlement for that entry through a Federal Reserve Bank. If we do not receive final settlement, you agree that we are entitled to a refund of the amount credited to you in connection with the entry, and that we may exercise our option to reverse the credit or require that you reimburse us by way of direct payment.
Appears in 3 contracts
Samples: Deposit Account Agreement, Deposit Account Agreement, Deposit Account Agreement
Provisional Payment. Credit we give given by us to you with respect to an ACH credit entry is provisional until we receive the final settlement for that such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with the such entry, and that we may exercise our option the party making payment to reverse you via such entry (i.e., the credit or require that originator of the entry) shall not be deemed to have paid you reimburse us by way in the amount of direct paymentsuch entry.
Appears in 2 contracts
Samples: Account Agreement, Account Agreement
Provisional Payment. Credit we give you given by us to members with respect to an ACH credit entry is provisional until we receive the final settlement for that the entry through a the Federal Reserve Bank. If we do the credit union does not receive final settlement, you members are hereby notified and agree that we are the credit union is entitled to a refund of the amount credited to you members' accounts in connection with the entry, and that we may exercise our option to . We will reverse the entry and debit the member's account accordingly. Member is liable for the balance and any attorney fees and costs associated with the credit or require that you reimburse us by way of direct paymentunion’s attempted collection for any unpaid balance owed.
Appears in 2 contracts
Samples: Digital Banking Services Agreement, Digital Banking Services Agreement
Provisional Payment. Credit we give you given by Us to You with respect to an ACH credit entry is provisional until we We receive the final settlement for that such entry through a Federal Reserve Bank. If we We do not receive such final settlement, you You are hereby notified and agree that we We are entitled to a refund of the amount credited to you You in connection with the such entry, and that we may exercise our option the party making payment to reverse You via such entry (i.e., the credit or require that you reimburse us by way originator of direct paymentthe entry) shall not be deemed to have paid You in the amount of such entry.
Appears in 2 contracts
Samples: Account Agreement, Account Agreement
Provisional Payment. Credit we give you with respect to an ACH credit entry is provisional until we receive the final settlement for that entry through a Federal Reserve Bank. If we do not receive final settlement, you agree that we are entitled to a refund of the amount credited to you in connection with the entry, entry and that we may exercise our option to reverse the credit or require that you reimburse us by way of direct payment, and the party making payment to you, i.e., the originator of the entry, via such entry shall not be deemed to have paid you the amount of such entry.
Appears in 1 contract
Samples: Deposit Account Agreement
Provisional Payment. Credit we give given by you to me with respect to an ACH credit entry is provisional until we you receive the final settlement for that such entry through a Federal Reserve Bank. If we you do not receive such final settlement, you agree that we are entitled may reverse the provisional credit entry. The party making payment to a refund me via such entry (i.e., the originator of the entry) shall not be deemed to have paid me the amount credited to you in connection with the of such entry, and that we may exercise our option to reverse the credit or require that you reimburse us by way of direct payment.
Appears in 1 contract
Samples: Membership Agreement
Provisional Payment. Credit we give given by us to you with respect to an ACH credit entry is provisional until we receive the final settlement for that such entry through a Federal Reserve Bank. If we do not receive receivesuch final settlement, you are notified and agree that we are entitled to a refund of the amount credited to creditedto you in connection with suchentry. The party making payment to you via such entryshall not be deemed to have paid you in the amount of such entry, and that we may exercise our option to reverse the credit or require that you reimburse us by way of direct payment.
Appears in 1 contract