Provisional Payment. All non-cash items credited to this account shall be credited conditionally, subject to final payment, and such items may be charged back, at any time, until the proceeds thereof in money (U.S. Dollars) have been actually received by the Credit Union. The Credit Union has the right to decline payment or to delay payment of any share draft drawn against such credits. The Credit Union shall not be obligated to notify You that a non-cash item has been dishonored or otherwise not been collected. Any amount not collected may be charged back to the account, including any expense incurred in the collection of a deposited item. If You do not comply with the terms of this Agreement and We refer the matter to an attorney, You agree to pay any court costs and a reasonable attorney’s fee. Credit given by Us to You with respect to an automated clearing house credit entry is provisional until We receive final settlement for 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 such entry, and the party making payment to You via such entry shall be deemed to have not paid You in the amount of such entry. Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving Your account, We are not required to give next day notice to You of receipt of an ACH item and We will not do so. However, We will continue to notify You of the receipt of payments in the periodic statements We provide to You. We may accept on Your behalf payments to Your account which have been transmitted through one or more Automated Clearing Houses and which are not subject to the Electronic Fund Transfer Act and Your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Alabama as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving Your account. ACCOUNT STATEMENTS. You will be sent a periodic statement of all transactions and activity on the account during the statement period. You are responsible for examining each statement and reporting any irregularities to the Credit Union. You agree that Your monthly account statement provides information sufficient to allow You to identify the items paid for purposes of §7-4-406(a) Code of Alabama (1975), if the item is described by item number, amount, and date of payment. Specifically, You agree that the Statement need not include any information about the payee of any item to allow You reasonably to identify the items paid. The Credit Union will not be liable for any forged or altered items drawn on or deposited to the account unless You give written notice to the Credit Union of the forgery or alteration within thirty days of the statement being mailed or delivered to You. You agree that any other objection to the account statement shall be waived unless made in writing to the Credit Union before the 30th day following the day the statement is mailed or delivered to You. The Credit Union will not be liable for items forged or altered in a manner not detectable by the Credit Union through reasonable means. SHARE DRAFTS. Only share draft blanks or other methods approved by the Credit Union may be used to withdraw funds from this account.
Appears in 3 contracts
Samples: Agreements and Disclosures, Agreements and Disclosures, Agreements and Disclosures
Provisional Payment. All non-cash items credited to this account shall be credited conditionally, subject to final payment, and such items may be charged back, at any time, until the proceeds thereof in money (U.S. Dollars) have been actually received by the Credit Union. The Credit Union has the right to decline payment or to delay payment of any share draft drawn against such credits. The Credit Union shall not be obligated to notify You that a non-cash item has been dishonored or otherwise not been collected. Any amount not collected may be charged back to the account, including any expense incurred in the collection of a deposited item. If You do not comply with the terms of this Agreement and We refer the matter to an attorney, You agree to pay any court costs and a reasonable attorney’s fee. Credit given by Us us to You you with respect to an automated clearing house ACH credit entry is provisional until We we receive final settlement for 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 your account in connection with such entry, and the party (the originator of the entry) making payment to You you via such entry shall not be deemed to have not paid You in you the amount of such entry. Under In order to effectuate any refund from you to which we are entitled under this provision, you authorize us without prior notice to you, to deduct the operating rules amount of the National Automated Clearing House Association, deposit from the account into which are applicable to ACH transactions involving Your account, We are not required to give next day notice to You of receipt of an ACH item and We will not do so. However, We will continue to notify You of the receipt of payments in the periodic statements We provide to Youit was credited or from any other account you have with us. We may accept also use any other legal remedy to recover from you the amount returned. IN SUCH CIRCUMSTANCES YOU AGREE THAT YOU SHALL INDEMNIFY AND HOLD US HARMLESS FROM ALL CLAIMS, DEMANDS, LAWSUITS, LOSSES, COSTS, EXPENSES AND ATTORNEYS’ FEES WE SUFFER OR INCUR IF EXERCISING OUR RIGHT OF RECLAMATION RESULTS IN INSUFFICIENT FUNDS IN THE ACCOUNT OR OTHER ACCOUNTS. International Transactions. As the result of time zones and other circumstances, international transactions, including both deposits and withdrawals may take place over the course of several business days. In certain circumstances, such as return items, an international transaction may take place on Your behalf payments to Your account which have been transmitted through one or multiple business days over the course of a lengthy period of time (more Automated Clearing Houses and which than 30 days). International transactions are not always subject to changes in the Electronic Fund Transfer Act and Your rights and obligations with respect currency exchange rate, which fluctuates on a daily basis. Changes in the currency exchange rate are likely to such payments shall be construed in accordance with and governed by create a difference between what we give you as a provisional credit at the laws time of the state of Alabama as provided by transaction and what we receive from the operating rules other institution upon presentment of the National Automated Clearing House Association, which are applicable item. We reserve the right to ACH transactions involving Your accountadjust your provisional credit to take account of these fluctuations in the currency exchange rate. ACCOUNT STATEMENTS. You will be sent That means that you may owe us more should an international transaction result in a periodic statement of all transactions and activity on the account during the statement period. You are responsible for examining each statement and reporting any irregularities to the Credit Union. You agree that Your monthly account statement provides information sufficient to allow You to identify the items paid for purposes of §7-4-406(a) Code of Alabama (1975), if the return item is described by item number, amount, and date of payment. Specifically, You agree that the Statement need not include any information about the payee of any item to allow You reasonably to identify the items paid. The Credit Union will not be liable for any forged or altered items drawn on or deposited to the account unless You give written notice to the Credit Union because of the forgery or alteration within thirty days fluctuation in the exchange rate between the time of the statement being mailed or delivered credit to You. You agree that any other objection to your account and the account statement shall be waived unless made in writing to the Credit Union before the 30th day following the day the statement is mailed or delivered to You. The Credit Union will not be liable for items forged or altered in a manner not detectable by the Credit Union through reasonable means. SHARE DRAFTS. Only share draft blanks or other methods approved by the Credit Union may be used to withdraw funds from this accountreturn.
Appears in 2 contracts
Samples: Deposit Account Agreement, Deposit Account Agreement
Provisional Payment. All non-cash items credited to this account shall be credited conditionally, subject to final payment, and such items may be charged back, at any time, until the proceeds thereof in money (U.S. Dollars) have been actually received by the Credit Union. The Credit Union has the right to decline payment or to delay payment of any share draft drawn against such credits. The Credit Union shall not be obligated to notify You that a non-cash item has been dishonored or otherwise not been collected. Any amount not collected may be charged back to the account, including any expense incurred in the collection of a deposited item. If You do not comply with the terms of this Agreement and We refer the matter to an attorney, You agree to pay any court costs and a reasonable attorney’s fee. Credit given by Us us to You you with respect to an automated clearing house ACH credit entry is provisional until We we receive final settlement for 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 your Account in connection with such entry, and the party (the originator of the entry) making payment to You you via such entry shall not be deemed to have not paid You in you the amount of such entry. Under In order to effectuate any refund from you to which we are entitled under this provision, you authorize us without prior notice to you, to deduct the operating rules amount of the National Automated Clearing House Association, deposit from the Account into which are applicable to ACH transactions involving Your account, We are not required to give next day notice to You of receipt of an ACH item and We will not do so. However, We will continue to notify You of the receipt of payments in the periodic statements We provide to Youit was credited or from any other Account you have with us. We may accept on Your behalf payments to Your account which have been transmitted through one or more Automated Clearing Houses and which are not subject to the Electronic Fund Transfer Act and Your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Alabama as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving Your account. ACCOUNT STATEMENTS. You will be sent a periodic statement of all transactions and activity on the account during the statement period. You are responsible for examining each statement and reporting any irregularities to the Credit Union. You agree that Your monthly account statement provides information sufficient to allow You to identify the items paid for purposes of §7-4-406(a) Code of Alabama (1975), if the item is described by item number, amount, and date of payment. Specifically, You agree that the Statement need not include any information about the payee of any item to allow You reasonably to identify the items paid. The Credit Union will not be liable for any forged or altered items drawn on or deposited to the account unless You give written notice to the Credit Union of the forgery or alteration within thirty days of the statement being mailed or delivered to You. You agree that also use any other objection legal remedy to recover from you the account statement shall be waived unless made in writing to amount returned. IN SUCH CIRCUMSTANCES YOU AGREE THAT YOU SHALL INDEMNIFY AND HOLD US HARMLESS FROM ALL CLAIMS, DEMANDS, LAWSUITS, LOSSES, COSTS, EXPENSES AND ATTORNEYS’ FEES WE SUFFER OR INCUR IF EXERCISING OUR RIGHT OF RECLAMATION RESULTS IN INSUFFICIENT FUNDS IN THE ACCOUNT OR OTHER ACCOUNTS. International Transactions. As the Credit Union before result of time zones and other circumstances, international transactions, including both deposits and withdrawals may take place over the 30th day following course of several business days. In certain circumstances, such as return items, an international transaction may take place on multiple business days over the day the statement is mailed or delivered to You. The Credit Union will not be liable for items forged or altered in course of a manner not detectable by the Credit Union through reasonable means. SHARE DRAFTS. Only share draft blanks or other methods approved by the Credit Union may be used to withdraw funds from this account.lengthy period of time
Appears in 1 contract
Samples: Deposit Account Agreement
