UNCLEARED FUNDS. 6.1. Uncleared funds, which may be credited to the account shall not be available for the Customer to draw against. If such uncleared cheques are, however, credited and/or allowed to be drawn against, the Bank shall have the right to debit the Customer’s account, in case they are lost and/or not realised.
6.2. Any such collections are undertaken at the sole risk of the Customer. The Bank will collect such cheques and transmit same as promptly as possible. Any delay arising out of this during transmission will be referred to the competent authority for action, and will attract no responsibility on our part for any action per law and the delay arising out of same.
UNCLEARED FUNDS. 8.1 Cheques paid into the Account are sent for collection to the bank/branch on which they are drawn. Until these cheques are honoured, they are treated as ‘uncleared’ effects. No payment may be made against such uncleared effects, unless specifically authorised by the Bank. Cheques paid into the Account, which are subsequently returned unpaid, will be debited to the Account and forwarded to the Customer for the necessary action.
UNCLEARED FUNDS. 15.2 We have in place procedures and safeguards to ensure that electronic payments can be carried out in a safe and secure manner. We will only make a CHAPS payment if you have sufficient cleared funds in your account.
15.3 You may request a CHAPS payment by writing to us. The request must be signed in accordance with the mandate we hold for your account. You will need to specify that you require the payment to be sent via CHAPS and provide your passbook if you have been issued with one.
15.4 You will need to provide us with your bank account number, sort code and the bank’s name and address, along with any reference and the amount. If your request is received before 12 noon, the CHAPS payment will be made on the same day, otherwise the payment will be made on the following working day. The money will be taken from your account and will normally reach your bank account on the same day.
15.5 Should you provide incorrect information there may be a delay in sending the funds or a loss of funds.
15.6 We reserve the right to refuse a request for a CHAPS withdrawal if we believe it has not been correctly authorised.
15.7 If you have a business savings account you may only make a CHAPS withdrawal to your nominated bank account. You should inform us of your nominated bank account on the application form. You may change your nominated bank account at any time by notifying us in writing of your new nominated bank account details.
15.8 Should you wish to cancel a request for a CHAPS you should contact us by telephone by the end of the working day before the day on which the payment is due to be made. Once a payment has been sent via CHAPS it cannot be stopped or recalled. Should you wish to amend your instructions for a CHAPS withdrawal, this must be provided to us in writing.
15.9 If we carry out your instructions for a withdrawal from your account incorrectly, you will be entitled to a full and immediate refund of the amount withdrawn.
15.10 You remain liable to make a payment even if we cannot debit your account for any reason outside our control.
13.11 If you wish to cancel a withdrawal request, you should contact us by telephone by the end of the working day before the day on which the withdrawal is due to be made.
13.12 We will not issue a payment to a third party from your account. Payments will only be made payable to the account holder(s) or authorised signatories.
13.13 We will not send cheques to third parties by post. Withdrawals will only be sent to the ...
UNCLEARED FUNDS. Insofar as the Custodian suffers Loss as a result of crediting the Client’s Managed Account in respect of any instrument, advanced payment, wire transfer or remittance of funds that does not then clear, the Custodian may debit the Client’s Managed Account accordingly.
UNCLEARED FUNDS. Certain electronic money Payment Instruments may entitle the Customer to have electronic money credited to his account before XPATE receives the funds from the Customer’s designated financial institution or payment service provider. Hereinafter, the funds credited in the Customer’s account and not yet received by XPATE will be referred to as “Uncleared Funds”. If the Customer chooses to use any of such Payment Instruments, the Customer promises to have funds available in the Customer’s financial institution account until we receive the cleared funds, which could take several days or longer. If Customer uses or spends Uncleared Funds, and for any reason, XPATE does not receive the Uncleared Funds amount after a reasonable time, XPATE may, without limits to other rights or remedies, deduct the Uncleared Funds amount from the Customer’s Account (which could make the Account to have a negative balance - see “Negative Balance” in section 9), obtain them from the Customer’s financial institution or payment service provider, as applicable, or collect them from the Customer in other ways.
UNCLEARED FUNDS. For the avoidance of doubt, nothing in this Agreement shall require or be interpreted as requiring either Joint Broker to subscribe for any of the Placing Shares or to pay any subscription monies in respect of any of the Placing Shares to the extent that the relevant Joint Broker shall not have received cleared funds from a Placee. In the event that a Placee defaults in the payment of any subscription monies, the Joint Brokers will, as agent for EARNZ and at EARNZ's expense, take such steps as they consider appropriate in the circumstances to enforce the rights of EARNZ in respect of amounts owed by the relevant Placee to EARNZ.
UNCLEARED FUNDS. LBM323 – 10.19
8.1 Cheques paid into the Account are sent for collection to the bank/branch on which they are drawn. Until these cheques are honoured, they are treated as ‘uncleared’ effects. No payment may be made against such uncleared effects, unless specifically authorised by the Bank. Cheques paid into the Account, which are subsequently returned unpaid, will be debited to the Account and forwarded to the Client for the necessary action.
8.2 For interest calculation purposes, cheques drawn on other local banks are normally considered as being cleared three (3) working days after they have been paid into the Account while cheques drawn on Lombard Bank are normally considered as being cleared two
