Accrual of Interest on Noncash Deposits definition

Accrual of Interest on Noncash Deposits. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Limitations on Withdrawals Federal regulations require us to retain the right to require you to give at least seven (7) days notice in writing prior to any intended withdrawal or payments from an interest-bearing account or from any other savings account as defined by Regulation D. Although we usually pay withdrawals or checks without prior notice on these accounts, doing so does not mean that we give up that right. We also may refuse to allow any withdrawals without the Bank creating liability to you, if we have a concern that one or more transactions on your account may have been unauthorized or fraudulent, if there is a dispute concerning the Deposit Account that makes us uncertain regarding the instructions that have been given, the Deposit Account is garnished or attached, the Deposit Account has been pledged to the Bank as collateral for a debt, the availability of the funds on deposit cannot be verified, any required documentation has not been presented, or you have failed to repay an obligation to us on time. Federal regulations also limit certain types of withdrawals or transfers from your savings or money market account to a total maximum of: • Six (6) per calendar month for savings accounts • Six (6) per monthly statement cycle (the period from one statement to the next) for money market accounts If you exceed the transfer limits on more than an occasional basis, we may convert your account to one not subject to transfer limitations or close your account. If we close or convert your account, you will receive a separate communication from us informing you of our actions. We count checks for the purposes of transaction limitations as of the date we post them to your account (not as of the date you write them). Limited Transactions (Maximum combined total of six (6) per month or monthly statement cycle, subject to Available balance) • Checks • ATM/Debit Card purchases or payments • Preauthorized transfers to another deposit account at the Bank • Preauthorized or automatic transfer to another institution (i.e. ACH payments and wire transfers) • Telephone transfers • Online bill payments • Online withdrawal transfers Unlimited Transactions • Deposits • ATM Cash withdrawals and transfers (subject to Available Balance) • Withdrawals or transfers made in person or by messenger, or by mail at the Bank (subject to Available Ba...
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Accrual of Interest on Noncash Deposits. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Sample 1Sample 2Sample 3
Accrual of Interest on Noncash Deposits. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Limitations on Withdrawals‌ Federal regulations require us to retain the right to require you to give at least seven (7) days notice in writing prior to any intended withdrawal or payments from an interest-bearing account or from any other savings account as defined by Regulation
Sample 1Sample 2

Examples of Accrual of Interest on Noncash Deposits in a sentence

  • Accrual of Interest on Noncash Deposits — Interest begins to accrue on the business day you deposit noncash items (for example, checks).

  • Accrual of Interest on Noncash Deposits: Interest will begin to accrue on the day you deposit noncash items (for example, checks) into your account.

  • Accrual of Interest on Noncash Deposits - Interest begins to accrue on the day you deposit noncash items (for example, checks) Transaction Limitations: You may make unlimited deposits into your variable rate certificate of deposit.

  • Accrual of Interest on Noncash Deposits: Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.

Related to Accrual of Interest on Noncash Deposits

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.