Common use of Stopping Payment Clause in Contracts

Stopping Payment. When you wish to stop a cheque or other payment you must notify the Credit Union which will advise you of any further requirements. The Credit Union will use its best efforts to honour your stop payment request; however, we can not stop payment if the amount has already been deducted from your Account. If the stop payment is not made, you are responsible for the full amount of the payment and the Credit Union is not liable to you. The Credit Union is not obliged to act on or verify compliance with an instruction to apply a deposit for a specific purpose or subject to any condition and the Credit Union will not be responsible for applying a deposit contrary to any instruction. Fees and interest calculated on a foreign currency Account will be charged or credited to that Account in that currency. Foreign currency cash withdrawals, transfers or point of sale transactions on a Canadian Account will be made using the exchange rate that is in effect on that day for that currency. Foreign currency Accounts do not qualify for deposit insurance.

Stopping Payment. When you wish to stop a cheque or other payment you must notify the Credit Union Union, which will advise you of any further requirements. The Credit Union will use its best efforts to honour your stop payment request; however, we can cannot stop payment if the amount has already been deducted from your Account. If the stop payment is not made, you are responsible for the full amount of the payment and the Credit Union is not liable to you. The Credit Union is not obliged to act on or verify compliance with an instruction to apply a deposit for a specific purpose or subject to any condition and the Credit Union will not be responsible for applying a deposit contrary to any instruction. Fees and interest calculated on a foreign currency Account account will be charged or credited to that Account in that currency. Foreign currency cash withdrawals, transfers or point of sale transactions on a Canadian Account will be made using the exchange rate that is in effect on that day for that currency. Foreign currency Accounts accounts do not qualify for deposit insurance.