Advantage Check definition

Advantage Check means a payable through draft that is similar in appearance to a traditional check, but is written against and processed from your Advantage Account. You may also apply for a Visa ® Debit Card issued by Xxxxx Fargo Bank, N.A. ("Xxxxx Fargo") and linked to your Account. For additional terms and conditions, please refer to terms contained with your Debit Card. If any provision of this Agreement conflicts or is inconsistent with any provision of the Debit Card terms, the provisions of the Debit Card terms shall control with respect to the Debit Card. You understand that you must maintain the required minimum investment for participation in your Account in cash or unencumbered marginable securities. Certain restrictions apply to the use of margin. The Account may be terminated at any time by either you or us independently of the General or Basic Brokerage Account Agreement and Disclosure. All Account transactions are subject to approval by us, our agents, and/or Affiliates. If we, including our agents or Affiliates, suspect that irregular, unauthorized, or unlawful activities may be involved with your Advantage Account or your Brokerage Account, each may respectively freeze (or place a hold on) the balance in the Account (and in other accounts you maintain with them) pending an investigation of such suspected activities. In addition to this Agreement, the Account is subject to our policies and procedures, including our agents' and Affiliates' policies and procedures, which may be amended from time to time. The terms "we," "us," "our," and "ours" refer to Introducing Firm, Clearing Agent, and our agents and Affiliates (as defined in your General or Basic Brokerage Account Agreement and Disclosure). The terms "Client," "Account Holder," and "you," "your," and "yours" refer to the person(s) who signs the Signature Page and enter(s) into this Agreement.

Examples of Advantage Check in a sentence

• A stop payment order cannot be acted on once we have paid, certified, or accepted the Advantage Check.

• You will be responsible for all Advantage Check transactions made by any authorized person and for all Debit Card transactions made by any person you have permitted to use your Debit Card, Debit Card number, or personal identification number ("PIN"), even if the actual use exceeds your authorization or permission.

• You and any other authorized signer may make a stop payment order on an Advantage Check by calling your financial professional.

• You agree to notify us immediately regarding the change in status (such as divorce, death, or court-declared incompetency) of any person(s) with Advantage Check signatory authority or Debit Card cardholder(s) on your Advantage Account.

• We may treat any signature on an Advantage Check as the signature of the indicated person when in our discretion the signature for the Advantage Account resembles the signature of the indicated person on the check, regardless of the means by which the actual or purported signature may have been affixed on the Advantage Check.

• We may not pay and may return any Advantage Check when, at our discretion, the signature for the Advantage Account does not resemble the signature of the indicated person on the Advantage Check, or a required signer's signature does not appear on the Advantage Check.

• In order to be effective, a stop payment order must be received in a time and manner that gives us a reasonable opportunity to verify that the Advantage Check is unpaid and to act on the request.

• You may authorize a merchant or other payee to make a one-time electronic payment from your Account using information from your Advantage Check to pay for purchases, or pay bills.

• To stop payment on an Advantage Check, you or an authorized signer must call your financial professional or the service telephone number on your Account statement.

• You or any authorized signer must supply the following information to us as a condition of accepting a stop payment order: • account number; • date on the Advantage Check; • Advantage Check number; • exact amount (dollars and cents) of the Advantage Check; • the name of payee; • information that we may require to verify your identity; and • other information we may reasonably require.