Returned Transactions. In using the Zelle Payment Service, you are requesting that we or our Service Provider attempt to make payments for you from your Eligible Transaction Account. If the Payment Instruction cannot be completed for any reason associated with your Eligible Transaction Account (for example, there are insufficient funds in your Eligible Transaction Account, or the Zelle Payment Service Payment Instruction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment), the Payment Instruction may or may not be completed. In certain circumstances, our Service Provider may either advance funds drawn or their corporate account or via an electronic debit and in such circumstances, we will attempt to debit the Eligible Transaction Account a second time to complete the Payment Instruction. In some instances, you will receive a return notice from us or our Service Provider. In each such case, you agree that: A. You will reimburse us immediately upon demand the amount of the Zelle Payment Instruction if we have delivered the payment to the Receiver but there are insufficient funds in, or insufficient overdraft credits associated with, your Eligible Transaction Account to allow us or our Service Provider to complete the processing of the payment; B. For any amount not reimbursed to us or our Service Provider within fifteen (15) days of the initial notification, a late charge equal to one and a half percent (1.5%) monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed by us or our Service Provider; C. You may be assessed a fee by our Service Provider and by us if the Payment Instruction cannot be debited because you have insufficient funds in your Eligible Transaction Account, or the transaction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment, or if we or our Service Provider cannot otherwise collect the funds from you; the fee amount will be as set forth in your fee schedule from us (including as disclosed on Online Banking and Mobile Banking) or your account agreement with us. You hereby authorize us and our Service Provider to deduct these amounts from your designated Eligible Transaction Account, including by ACH debit; D. You will reimburse us for any fees or costs we incur in attempting to collect any amounts from you, including the costs of using a third party collections contractor; and E. We and our Service Provider are authorized to report the facts concerning the return to any credit reporting agency. In using the Zelle and Other Payment Services, you understand that Receivers may reject Payment Instructions or otherwise return payments only if the Receiver is not enrolled in Zelle. We will use reasonable efforts to complete Payment Instructions initiated through the Zelle Payment Service.
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Samples: Electronic Records Disclosure & Agreement, Electronic Records Disclosure & Agreement, Electronic Records Disclosure & Agreement
Returned Transactions. In using the Zelle Zelle® Payment Service, you are requesting that we or our Service Provider attempt to make payments for you from your Eligible Transaction Account. If the Payment Instruction cannot be completed for any reason associated with your Eligible Transaction Account (for example, there are insufficient funds in your Eligible Transaction Account, or the Zelle Zelle® Payment Service Payment Instruction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment), the Payment Instruction may or may not be completed. In certain circumstances, our Service Provider may either advance funds drawn or their corporate account or via an electronic debit and in such circumstances, we will attempt to debit the Eligible Transaction Account a second time to complete the Payment Instruction. In some instances, you will receive a return notice from us or our Service Provider. In each such case, you agree that:
A. You will reimburse us immediately upon demand the amount of the Zelle Zelle® Payment Instruction if we have delivered the payment to the Receiver but there are insufficient funds in, or insufficient overdraft credits associated with, your Eligible Transaction Account to allow us or our Service Provider to complete the processing of the payment;
B. For any amount not reimbursed to us or our Service Provider within fifteen (15) days of the initial notification, a late charge equal to one and a half percent (1.5%) monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed by us or our Service Provider;
C. You may be assessed a fee by our Service Provider and by us if the Payment Instruction cannot be debited because you have insufficient funds in your Eligible Transaction Account, or the transaction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment, or if we or our Service Provider cannot otherwise collect the funds from you; the fee amount will be as set forth in your fee schedule from us (including as disclosed on Online Banking and Mobile Banking) or your account agreement with us. You hereby authorize us and our Service Provider to deduct these amounts from your designated Eligible Transaction Account, including by ACH debit;
D. You will reimburse us for any fees or costs we incur in attempting to collect any amounts from you, including the costs of using a third party collections contractor; and
E. We and our Service Provider are authorized to report the facts concerning the return to any credit reporting agency. In using the Zelle Zelle® and Other Payment Services, you understand that Receivers may reject Payment Instructions or otherwise return payments only if the Receiver is not enrolled in Zelle®. We will use reasonable efforts to complete Payment Instructions initiated through the Zelle Zelle® Payment Service.
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