Common use of Stopping Payment Clause in Contracts

Stopping Payment. The law permits you to ask us to stop payment of checks drawn on your account. Within a reasonable time before the check or debit is presented, you must tell us the exact amount of the check, the check number, the check date and the full number of the account on which it is drawn for us to be able to stop it. You may also ask us to stop payment of electronic debits to your account by following the procedures described in Section V of this brochure, under the heading “Stopping Electronic Payments.” If the information that you give us is not correct, or if you do not give us any other reasonable information that we ask for about the check or debit, or if you do not give us the information within a reasonable time before the check or debit is presented, we will not be responsible if we are not able to stop it. Regular stop payment orders are effective for 6 months. Extended stop payment orders are effective for 5 years. At the end of the effective period for either type of stop payment order, the order will expire unless at that time you request an additional stop payment order. You may request either an additional 6 month (regular) or 5 year (extended) stop payment order. A stop payment fee will be imposed for each regular and extended stop payment order. We are not obligated to accept a stop payment order on any cashier’s check, treasurer’s check, certified check or money order. If we agree to do so, we may first require you to post a surety bond indemnifying us for any potential damages and/or file a declaration of loss in any form we reasonably request. If your passbook is lost, stolen or destroyed, we will ask you to complete a written request, in the form that we require, to pay the money in your account to you or to issue you a new passbook. We will not pay you the money, issue you a new passbook, or transfer the money into a new Passbook Savings Account until we receive a request that has been properly completed and submitted by all account holders and all account holders present satisfactory identification to us. If applicable law requires that public notice be given of the loss or theft of the passbook, we will also require that adequate notice be given, at your expense, and that we receive satisfactory proof of such notice. A Passbook Replacement Fee will be imposed once we receive proper documentation as noted in this paragraph. All Checking Accounts consist of two (2) sub-accounts: a transaction sub-account and a savings sub-account. The separation of the two (2) sub-accounts is for internal purposes only, will not appear on your periodic statement and does not affect the use of your Checking Account in any way. All account rules, regulations and disclosures (including any provisions relating to interest) apply to your Checking Account as a whole, without reference to the sub-accounts. All transactions that you perform will be posted to your transaction sub-account. The Bank may, at its sole discretion, use the savings sub-account as a holding account for funds that exceed the amount needed to satisfy the checks, electronic fund transfers and other debits that we estimate will be posted to your Checking Account. We will transfer funds from the savings sub-account back to the transaction sub-account periodically as needed to make funds available to pay debits to your Checking Account. If we make six (6) transfers from the savings sub-account to the transaction sub-account in any one statement period, we will transfer all funds to the transaction sub-account at the time of the sixth (6th) transfer. Use of the savings sub-account as a holding account may resume at the beginning of the next statement period.

Stopping Payment. The law permits If you to ask us want to stop the payment of checks a check drawn on or a debit to your account, you may do so if we receive your verbal or written Stop Payment Order before we have paid or become accountable for the check or debit. Within We will have a reasonable period of time before to place the order in effect. Your Stop Payment Order will have been delivered to us too late if we have already accepted the check for payment. If you give us verbal instructions, you must mail or deliver to us written confirmation of the Stop Payment Order within fourteen (14) calendar days or the Stop Payment Order will lapse. Stop payment authorizations will remain in effect for six (6) months from the date we first receive your Stop Payment Order, and there will be a service fee for each such Stop Payment Order. You must contact us and renew a Stop Payment Order if you want to extend it beyond its expiration date. We will accept a Stop Payment Order from any account owner or authorized signer, even if that individual did not sign the check or create the debit. Your written instructions or confirmation must be signed by you and include the following information: the names of all persons on the account, the account number, the name of the individual who signed the check or created the debit, the name of the party to whom the check or debit is presentedwas made payable, you must tell us the exact date of the check or debit, the amount of the checkcheck or debit, the check number, the check date and the full number of the account on which it is drawn your name. The Bank assumes no liability for us to be able to stop it. You may also ask us failure to stop payment on a check or debit if any of electronic debits to your account by following the procedures described in Section V of this brochure, under the heading “Stopping Electronic Payments.” If the information is incorrect or incomplete. If you deliver the Stop Payment Order to us in person, you should give it to a Bank Officer or a Personal Banking Representative. If you mail it, you should address it to the address of your branch. When you give a Stop Payment Order for a debit drawn pursuant to a preauthorized payment, the stop payment order will remain in effect until the earlier of (1) with- drawal of the stop payment order by you; or (2) the return of the debit entry, or, where the stop payment order is applied to more than one debit entry under a specific authorization involving a specific Originator, the return of all such debit entries. If we honor your Stop Payment Order on a check or debit, you agree that you give will hold us harmless for all expenses incurred on account of the Stop Payment Order. You further agree that if, contrary to such Stop Payment Order, payment of a check or debit that is not correctthe subject of the Stop Payment Order is nevertheless made through inadvertence, accident or if you do not give us any other reasonable information that we ask for about oversight, the Bank’s liability will be limited to the amount of actual loss sustained, up to the amount of the check or debit, or if you do not give us and the information within a reasonable time before the check or debit is presented, we Bank will not be responsible if we liable with respect to other checks or debits drawn by you which are not able to stop it. Regular stop payment orders are effective returned for 6 months. Extended stop payment orders are effective for 5 years. At the end of the effective period for either type of stop payment order, the order will expire unless at that time you request an additional stop payment order. You may request either an additional 6 month (regular) or 5 year (extended) stop payment order. A stop payment fee will be imposed for each regular and extended stop payment order. We are not obligated to accept a stop payment order on any cashier’s check, treasurer’s check, certified check or money order. If we agree to do so, we may first require you to post a surety bond indemnifying us for any potential damages and/or file a declaration of loss in any form we reasonably request. If your passbook is lost, stolen or destroyed, we will ask you to complete a written request, in the form that we require, to pay the money in your account to you or to issue you a new passbook. We will not pay you the money, issue you a new passbook, or transfer the money into a new Passbook Savings Account until we receive a request that has been properly completed and submitted by all account holders and all account holders present satisfactory identification to us. If applicable law requires that public notice be given of the loss or theft of the passbook, we will also require that adequate notice be given, at your expense, and that we receive satisfactory proof insufficient funds because of such notice. A Passbook Replacement Fee will be imposed once we receive proper documentation as noted in this paragraph. All Checking Accounts consist of two (2) sub-accounts: a transaction sub-account and a savings sub-account. The separation of the two (2) sub-accounts is for internal purposes only, will not appear on your periodic statement and does not affect the use of your Checking Account in any way. All account rules, regulations and disclosures (including any provisions relating to interest) apply to your Checking Account as a whole, without reference to the sub-accounts. All transactions that you perform will be posted to your transaction sub-account. The Bank may, at its sole discretion, use the savings sub-account as a holding account for funds that exceed the amount needed to satisfy the checks, electronic fund transfers and other debits that we estimate will be posted to your Checking Account. We will transfer funds from the savings sub-account back to the transaction sub-account periodically as needed to make funds available to pay debits to your Checking Account. If we make six (6) transfers from the savings sub-account to the transaction sub-account in any one statement period, we will transfer all funds to the transaction sub-account at the time of the sixth (6th) transfer. Use of the savings sub-account as a holding account may resume at the beginning of the next statement periodpayment.

Stopping Payment. The law permits If you to ask us wish to stop the payment of checks a check or an ACH drawn on your accountChecking Account, you may do so if UMB receives an acceptable verbal or written stop payment order before it has paid or become accountable for the check or debit. Within UMB will have a reasonable period of time before to place the order in effect. A service fee applies if you request a stop payment order on an Item. Stop payment authorizations for preauthorized payments will remain in effect until (a) you withdraw the stop payment order; or (2) your Checking Account is closed. All other stop payment authorizations, including stop payment authorizations for checks, will generally remain in effect for one hundred and eighty (180) days from the date UMB first receives your stop payment order (provided you deliver UMB written confirmation, if the initial stop payment request was verbal), unless withdrawn. However, you may stop payment on an ACH drawn on your Checking Account by a particular originator for an indefinite period of time. You must contact UMB and renew a stop payment order if you want to extend it beyond its expiration date. If you give UMB verbal instructions, UMB may require you to mail or deliver a written confirmation of the stop payment order within fourteen (14) calendar days or the stop payment order will lapse. If such a written confirmation is required, it must be signed by you and include the following information: the names of all persons on the account, the account number, the name of the individual who signed the check or created the debit, the name of the party to whom the check or debit is presented, you must tell us the exact amount of the checkwas made payable, the check number, the check date and the full number of the account on which it is drawn for us to be able to stop it. You may also ask us to stop payment of electronic debits to your account by following the procedures described in Section V of this brochure, under the heading “Stopping Electronic Payments.” If the information that you give us is not correct, or if you do not give us any other reasonable information that we ask for about the check or debit, or if you do not give us the information within a reasonable time before amount of the check or debit is presenteddebit, we will not be responsible if we are not able the check number and your name. UMB assumes no liability for failure to stop it. Regular stop payment orders are effective for 6 months. Extended stop payment orders are effective for 5 years. At the end on a check or ACH transaction if any of the effective period for either type of stop payment order, the order will expire unless at that time you request an additional stop payment orderthis information is incorrect or incomplete. You may request either an additional 6 month (regular) or 5 year (extended) stop payment ordermust deliver such confirmation in the manner UMB specifies. A stop payment fee UMB will be imposed for each regular and extended stop payment order. We are not obligated to accept a stop payment order on from you or any cashier’s checkJoint Account Holder, treasurer’s check, certified even if that individual did not sign the check or money create the debit. If UMB honors your stop payment order on a check or debit, you must reimburse UMB for all Claims and Costs relating in any way to that stop payment order. If we agree a check or debit that is the subject of a stop payment order is nevertheless made through inadvertence, accident or oversight, then to do sothe extent permitted by applicable law, we may first require you UMB's liability is limited to post a surety bond indemnifying us for any potential damages and/or file a declaration the amount of actual loss in any form we reasonably request. If your passbook is lostsustained, stolen or destroyed, we will ask you up to complete a written request, in the form that we require, to pay the money in your account to you or to issue you a new passbook. We will not pay you the money, issue you a new passbook, or transfer the money into a new Passbook Savings Account until we receive a request that has been properly completed and submitted by all account holders and all account holders present satisfactory identification to us. If applicable law requires that public notice be given amount of the loss check or theft of the passbook, we will also require that adequate notice be given, at your expensedebit, and UMB is not liable with respect to other checks or debits drawn by you that we receive satisfactory proof are returned for insufficient funds because of such notice. A Passbook Replacement Fee will be imposed once we receive proper documentation as noted in this paragraph. All Checking Accounts consist of two (2) sub-accounts: a transaction sub-account and a savings sub-account. The separation of the two (2) sub-accounts is for internal purposes only, will not appear on your periodic statement and does not affect the use of your Checking Account in any way. All account rules, regulations and disclosures (including any provisions relating to interest) apply to your Checking Account as a whole, without reference to the sub-accounts. All transactions that you perform will be posted to your transaction sub-account. The Bank may, at its sole discretion, use the savings sub-account as a holding account for funds that exceed the amount needed to satisfy the checks, electronic fund transfers and other debits that we estimate will be posted to your Checking Account. We will transfer funds from the savings sub-account back to the transaction sub-account periodically as needed to make funds available to pay debits to your Checking Account. If we make six (6) transfers from the savings sub-account to the transaction sub-account in any one statement period, we will transfer all funds to the transaction sub-account at the time of the sixth (6th) transfer. Use of the savings sub-account as a holding account may resume at the beginning of the next statement periodpayment.

Stopping Payment. The law permits If you to ask us want to stop the payment of checks drawn on a check or debit, you may do so if we receive your accountverbal or written Stop Payment Order before we have paid or become accountable for the check or debit. Within We have a reasonable period of time before to place the order in effect. Your Stop Payment Order comes too late if we have already accepted the check for payment. If you give us verbal instructions, you must mail or deliver to us written confirmation of the Stop Payment Order within fourteen (14) days or the Stop Payment Order will lapse. Stop payment authorizations will remain in effect for six (6) months from the date we first receive your Stop Payment Order, and there will be a service charge for each such Stop Payment Order. You must contact us and renew a Stop Payment Order if you want to extend it beyond the current expiration date. We will accept a Stop Payment Order from any owner or authorized signer, even if that person did not sign the check or create the debit. Your written instructions or confirmation must be signed by you and include the following information: the names of all persons on the account, the account number, the name of the person who signed the check or created the debit, the name of the party to whom the check or debit is presentedwas made payable, you must tell us the exact date of the check or debit, the amount of the checkcheck or debit, the check number, the check date and the full number of the account on which it is drawn your name. The Bank assumes no liability for us to be able to stop it. You may also ask us failure to stop payment on a check or debit if any of electronic debits to your account by following the procedures described in Section V of this brochure, under the heading “Stopping Electronic Payments.” If the information is incorrect or incomplete. If you deliver the Stop Payment Order in person, you should give it to a Bank Officer or a Personal Banking Representative. If you mail it, you should address it to the address of your branch. When you give a Stop Payment Order for a debit drawn pursuant to a preauthorized payment, the stop payment order will remain in effect until the earlier of (1) withdrawal of the stop payment order by you; or (2) the return of the debit entry, or, where the stop payment order is applied to more than one debit entry under a specific authorization involving a specific Originator, the return of all such debit entries. If we honor your Stop Payment Order on a check or debit, you agree that you give will hold us harmless for all expenses incurred on account of the Stop Payment Order. You further agree that if, contrary to such Stop Payment Order, payment of a check or debit that is not correctthe subject of the Stop Payment Order is nevertheless made through inadvertence, accident or if you do not give us any other reasonable information that we ask for about oversight, the Bank’s liability will be limited to the amount of actual loss sustained, up to the amount of the check or debit, or if you do not give us and the information within a reasonable time before the check or debit is presented, we Bank will not be responsible if we liable with respect to other checks or debits drawn by you which are not able to stop it. Regular stop payment orders are effective returned for 6 months. Extended stop payment orders are effective for 5 years. At the end of the effective period for either type of stop payment order, the order will expire unless at that time you request an additional stop payment order. You may request either an additional 6 month (regular) or 5 year (extended) stop payment order. A stop payment fee will be imposed for each regular and extended stop payment order. We are not obligated to accept a stop payment order on any cashier’s check, treasurer’s check, certified check or money order. If we agree to do so, we may first require you to post a surety bond indemnifying us for any potential damages and/or file a declaration of loss in any form we reasonably request. If your passbook is lost, stolen or destroyed, we will ask you to complete a written request, in the form that we require, to pay the money in your account to you or to issue you a new passbook. We will not pay you the money, issue you a new passbook, or transfer the money into a new Passbook Savings Account until we receive a request that has been properly completed and submitted by all account holders and all account holders present satisfactory identification to us. If applicable law requires that public notice be given of the loss or theft of the passbook, we will also require that adequate notice be given, at your expense, and that we receive satisfactory proof insufficient funds because of such notice. A Passbook Replacement Fee will be imposed once we receive proper documentation as noted in this paragraph. All Checking Accounts consist of two (2) sub-accounts: a transaction sub-account and a savings sub-account. The separation of the two (2) sub-accounts is for internal purposes only, will not appear on your periodic statement and does not affect the use of your Checking Account in any way. All account rules, regulations and disclosures (including any provisions relating to interest) apply to your Checking Account as a whole, without reference to the sub-accounts. All transactions that you perform will be posted to your transaction sub-account. The Bank may, at its sole discretion, use the savings sub-account as a holding account for funds that exceed the amount needed to satisfy the checks, electronic fund transfers and other debits that we estimate will be posted to your Checking Account. We will transfer funds from the savings sub-account back to the transaction sub-account periodically as needed to make funds available to pay debits to your Checking Account. If we make six (6) transfers from the savings sub-account to the transaction sub-account in any one statement period, we will transfer all funds to the transaction sub-account at the time of the sixth (6th) transfer. Use of the savings sub-account as a holding account may resume at the beginning of the next statement periodpayment.

Stopping Payment. The law permits If you to ask us want to stop the payment of checks a check drawn on or a debit to your account, you may do so if we receive your verbal or written Stop Payment Order before we have paid or become accountable for the check or debit. Within We will have a reasonable period of time before to place the order in effect. Your Stop Payment Order will have been delivered to us too late if we have already accepted the check for payment. If you give us verbal instructions, you must mail or deliver to us written confirmation of the Stop Payment Order within fourteen (14) calendar days or the Stop Payment Order will lapse. Stop payment authorizations will remain in effect for six (6) months from the date we first receive your Stop Payment Order, and there will be a service fee for each such Stop Payment Order. You must contact us and renew a Stop Payment Order if you want to extend it beyond its expiration date. We will accept a Stop Payment Order from any account owner or authorized signer, even if that individual did not sign the check or create the debit. Your written instructions or confirmation must be signed by you and include the following information: the names of all persons on the account, the account number, the name of the individual who signed the check or created the debit, the name of the party to whom the check or debit is presentedwas made payable, you must tell us the exact date of the check or debit, the amount of the checkcheck or debit, the check number, the check date and the full number of the account on which it is drawn your name. The Bank assumes no liability for us to be able to stop it. You may also ask us failure to stop payment on a check or debit if any of electronic debits to your account by following the procedures described in Section V of this brochure, under the heading “Stopping Electronic Payments.” If the information is incorrect or incomplete. If you deliver the Stop Payment Order to us in person, you should give it to a Bank Officer or a Personal Banking Representative. If you mail it, you should address it to the address of your branch. When you give a Stop Payment Order for a debit drawn pursuant to a preauthorized payment, the stop payment order will remain in effect until the earlier of (1) with- drawal of the stop payment order by you; or (2) the return of the debit entry, or, where the stop payment order is applied to more than one debit entry under a specific authorization involving a specific Originator, the return of all such debit entries. If we honor your Stop Payment Order on a check or debit, you agree that you give will hold us harmless for all expenses incurred on account of the Stop Payment Order. You further agree that if, contrary to such Stop Payment Order, payment of a check or debit that is not correctthe subject of the Stop Payment Order is nevertheless made through inadvertence, accident or if you do not give us any other reasonable information that we ask for about oversight, the Bank’s liability will be limited to the amount of actual loss sustained, up to the amount of the check or debit, or if you do not give us and the information within a reasonable time before the check or debit is presented, we Bank will not be responsible if we liable with respect to other checks or debits drawn by you which are not able to stop it. Regular stop payment orders are effective returned for 6 months. Extended stop payment orders are effective for 5 years. At the end of the effective period for either type of stop payment order, the order will expire unless at that time you request an additional stop payment order. You may request either an additional 6 month (regular) or 5 year (extended) stop payment order. A stop payment fee will be imposed for each regular and extended stop payment order. We are not obligated to accept a stop payment order on any cashier’s check, treasurer’s check, certified check or money order. If we agree to do so, we may first require you to post a surety bond indemnifying us for any potential damages and/or file a declaration of loss in any form we reasonably request. If your passbook is lost, stolen or destroyed, we will ask you to complete a written request, in the form that we require, to pay the money in your account to you or to issue you a new passbook. We will not pay you the money, issue you a new passbook, or transfer the money into a new Passbook Savings Account until we receive a request that has been properly completed and submitted by all account holders and all account holders present satisfactory identification to us. If applicable law requires that public notice be given of the loss or theft of the passbook, we will also require that adequate notice be given, at your expense, and that we receive satisfactory proof insufficient funds because of such notice. A Passbook Replacement Fee will be imposed once we receive proper documentation as noted in this paragraph. All Checking Accounts consist of two (2) sub-accounts: a transaction sub-account and a savings sub-account. The separation of the two (2) sub-accounts is for internal purposes only, will not appear on your periodic statement and does not affect the use of your Checking Account in any way. All account rules, regulations and disclosures (including any provisions relating to interest) apply to your Checking Account as a whole, without reference to the sub-accounts. All transactions that you perform will be posted to your transaction sub-account. The Bank may, at its sole discretion, use the savings sub-account as a holding account for funds that exceed the amount needed to satisfy the checks, electronic fund transfers and other debits that we estimate will be posted to your Checking Account. We will transfer funds from the savings sub-account back to the transaction sub-account periodically as needed to make funds available to pay debits to your Checking Account. If we make six (6) transfers from the savings sub-account to the transaction sub-account in any one statement period, we will transfer all funds to the transaction sub-account at the time of the sixth (6th) transfer. Use of the savings sub-account as a holding account may resume at the beginning of the next statement periodpayment.