USE OF CHECKS. If we issue you checks, these checks are treated as cash advances when they are used and presented for payment. We may refuse to issue or reissue and may also terminate, limit or modify the use of the checks without notice to you, and you agree to surrender the checks upon our demand or upon learning of our cancellation or withdrawal of the checks. Use of checks or other methods of access for kiting or similar activity is an action of default. The checks at all times remain the property of PenFed and we may repossess them without the use of court process. All of the terms and conditions of this Agreement apply to the use of the checks. Only check blanks and other methods authorized by PenFed now and in the future may be used to obtain funds from your Account. If so authorized by PenFed, your use of a personal identification number (PIN) for such purpose shall constitute your signature. Paid checks become our property and will not be returned to you. Copies may be provided, if requested, for a nominal fee for each item. Should we decline to pay any check, or if you instruct us not to pay a check, PenFed shall not be liable, except for gross negligence, for any action it takes regarding payment or nonpayment of a check. If we decline to pay a check, a charge may be made to your account in the amount indicated on our current Schedule of Service Fees brochure, which is available at any branch office, on request, or at XxxXxx.xxx. You will not date any check later than the date that you write it. If you do and the check is presented for payment before its date, PenFed, in its sole discretion may return it unpaid, or pay it. If we pay it, we will charge the Account. PenFed may, in its sole discretion, pay a check which has a date more than six months old.
USE OF CHECKS. Each Check used must be in the form we send you, imprinted with your identification number. Your Checks must be completed and signed in the same way as a regular personal check. The Bank on which your Checks are drawn does not offer you the ability to issue certified Checks. You may authorize a merchant or other payee to make a one-time electronic payment from your available cash balance by using information from your check to pay for purchases or to pay bills. We and your Provider reserve the right to limit the number of Checks you may draw through the Program. In addition to the Bank’s right under the law not to pay Checks in some circumstances, we or your Provider may refuse to authorize the Bank to pay a Check if it would cause you to exceed your Open-to-Buy Value (see section titled “Transaction Limit”), if you do not keep all your promises under this Agreement or if otherwise deemed appropriate under the circumstances. PLEASE NOTE THAT ANY USE OF CHECKS UNDER THE PROGRAM MEANS THAT YOU AGREE TO BE LEGALLY BOUND BY THIS AGREEMENT.
USE OF CHECKS. Each Check used must be in the form we send you, imprinted with your identification number. Your Checks must be completed and signed in the same way as a regular personal check. There are no limits as to the number of Checks you can write. In addition to the Bank’s right under the law not to pay Checks in some circumstances, we or your Broker/Bank may refuse to authorize the Bank to pay a Check i f i t would cause you to exceed your Open-to-Buy Value (see section t i t led “Transaction Limit ” ), or if you do not keep all your promises under this Agreement.
USE OF CHECKS. If we issue you checks, these checks are treated as cash advances when they are used and presented for payment. We may refuse to issue or reissue and may also terminate, limit or modify the use of the checks without notice to you, and you agree to surrender the checks upon our demand or upon learning of our can- cellation or withdrawal of the checks. Use of checks or other methods of access for kiting or similar activity is an action of default. The checks at all times remain the property of PenFed and we may repossess them without the use of court process. All of the terms and conditions of this Agreement apply to the use of the checks. Only check blanks and other methods authorized by PenFed now and in the future may be used to obtain funds from your Account. If so authorized
USE OF CHECKS. Each Check used must be in the form we send you, imprinted with your identi cation number. Your Checks must be completed and signed in the same way as a regular personal check. The Bank on which your Checks are drawn does not offer you the ability to issue certi ed Checks. We and your Provider reserve the right to limit the number of Checks you may draw on a Bank through the Program. In addition to the Bank’s right under the law not to pay Checks in some circumstances, we or your Provider may refuse to authorize the Bank to pay a Check if it would cause you to exceed your Open-to-Buy Value (see section titled “Transaction Limit”), if you do not keep all your promises under this Agreement or if otherwise deemed appropriate under the circumstances. PLEASE NOTE THAT ANY USE OF CHECKS UNDER THE PROGRAM MEANS THAT YOU AGREE TO BE LEGALLY BOUND BY THIS AGREEMENT.
