Common use of Stopping Payment Clause in Contracts

Stopping Payment. If you want to stop the payment of 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. We will have a reasonable period of time 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 was made payable, the date of the check or debit, the amount of the check or debit, the check number, and your name. The Bank assumes no liability for failure to stop payment on a check or debit if any of 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 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 the subject of the Stop Payment Order is nevertheless made through inadvertence, accident or oversight, the Bank’s liability will be limited to the amount of actual loss sustained, up to the amount of the check or debit, and the Bank will not be liable with respect to other checks or debits drawn by you which are returned for insufficient funds because of such payment.

Stopping Payment. If The law permits you want to ask us to stop the payment of a check checks 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. We will have Within a reasonable period of time 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 before the check or debit was made payableis 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 amount of information within a reasonable time before the check or debitdebit 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 numberor 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. Lost or Stolen Passbooks 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. Checking Account Sub-Accounts 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 nameperiodic 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 assumes no liability may, at its sole discretion, use the savings sub-account as a holding account for failure funds that exceed the amount needed to stop payment on a check or debit if any of satisfy the information is incorrect or incompletechecks, electronic fund transfers and other debits that we estimate will be posted to your Checking Account. If you deliver We will transfer funds from 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 savings sub-account back to the address of transaction sub-account periodically as needed to make funds available to pay debits to 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 entriesChecking Account. If we honor your Stop Payment Order on a check or debitmake six (6) transfers from the savings sub-account to the transaction sub-account in any one statement period, you agree that you we will hold us harmless for transfer all expenses incurred on funds to the transaction sub-account at the time of the Stop Payment Ordersixth (6th) transfer. You further agree that if, contrary to such Stop Payment Order, payment of a check or debit that is the subject Use of the Stop Payment Order is nevertheless made through inadvertence, accident or oversight, savings sub-account as a holding account may resume at the Bank’s liability will be limited to the amount of actual loss sustained, up to the amount beginning of the check or debit, and the Bank will not be liable with respect to other checks or debits drawn by you which are returned for insufficient funds because of such paymentnext statement period.

Stopping Payment. If you want wish to stop the payment of a check or an ACH drawn on or a debit to your accountChecking Account, you may do so if we receive your UMB receives an acceptable verbal or written Stop Payment Order stop payment order before we have it has paid or become accountable for the check or debit. We UMB will have a reasonable period of time to place the order in effect. Your Stop Payment Order will have been delivered to us too late A service fee applies 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 lapserequest 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 six checks, will generally remain in effect for one hundred and eighty (6180) months days from the date we UMB first receive receives your Stop Payment Orderstop payment order (provided you deliver UMB written confirmation, and there will be 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 service fee particular originator for each such Stop Payment Orderan indefinite period of time. You must contact us UMB and renew a Stop Payment Order stop payment order if you want to extend it beyond its expiration date. We 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 accept lapse. If such a Stop Payment Order from any account owner or authorized signerwritten confirmation is required, even if that individual did not sign the check or create the debit. Your written instructions or confirmation 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 was made payable, the date of the check or debit, the amount of the check or debit, the check number, number and your name. The Bank UMB assumes no liability for failure to stop payment on a check or debit ACH transaction if any of the this information is incorrect or incomplete. If you You must deliver such confirmation in the Stop Payment Order to us in person, you should give it to manner UMB specifies. UMB will accept 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 from you or any Joint Account Holder, even if that individual did not sign the earlier of (1) with- drawal of check or create the debit. If UMB honors your 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 will hold us harmless must reimburse UMB for all expenses incurred on account of the Stop Payment OrderClaims and Costs relating in any way to that stop payment order. You further agree that if, contrary to such Stop Payment Order, payment of If a check or debit that is the subject of the Stop Payment Order a stop payment order is nevertheless made through inadvertence, accident or oversight, then to the Bank’s extent permitted by applicable law, UMB's liability will be is limited to the amount of actual loss sustained, up to the amount of the check or debit, and the Bank will UMB is not be liable with respect to other checks or debits drawn by you which that are returned for insufficient funds because of such payment.