Transactions to your Account. We may charge your account on the day that a check or other transaction is presented (or returned) to us directly or electronically for payment. We may charge your account or place a hold on funds at an earlier time if we receive notice that a check or other item deposited to your account is being returned, or if we receive notice that your check or electronic payment (e.g., at a point-of-sale) is being processed for collection.
Transactions to your Account. Posting order is the order in which we apply withdrawals, deposits and other transactions to your Account. We receive transactions at different times throughout the Business Day, and some transactions will show up on your Account as pending transactions during the day while others may not. Although we receive Items throughout the day, we generally treat them as if we received all Items at the same time at the end of the Business Day. We look at your Account only once to determine if your Available Balance is sufficient to pay an Item. The posting order is important because it determines which Items may create an Overdraft and how many related fees you incur. You agree that we may choose our posting order regardless of whether additional fees may result. We reserve the right to change our posting order at any time. It is important to understand that Items are not posted to your Account in the same order in which the transactions occurred. Instead, Items are posted to your Account using automated systems that group transactions into categories based on the Item type. At the end of each Business Day, we process transactions on your Account by starting with the Ledger Balance at the end of the previous Business Day and subtracting from this amount any Holds on your Account. Then, we post credits and debits to your Account generally in the order shown below. An Overdraft is created if your Available Balance is not sufficient to pay for any Item posted to your Account during this process. Please note that the examples provided below are intended to be representative of the most common types of Items within each category, and other Items may be posted to your Account even though not specifically identified on the following page. Order of Posting FIRST, we add deposits and other credits to your Account that are received before the applicable cutoff time, including: • Cash and check deposits, including ATM and Mobile Deposits • Transfers into your Account such as those made through online or mobile banking • Direct deposits (ACH) These Items are posted in order from highest to lowest dollar amount. SECOND, we subtract certain fees that were incurred the prior Business Day, specifically: • Fees for Overdrafts and • Daily fees for Accounts that remain overdrawn These Items are posted in order from lowest to highest dollar amount. THIRD, we subtract priority debits, which are transactions paid from your Account that are cash or cash-equivalent and cannot be returned. ...
