Automated Deposits definition

Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable automated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjustment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account. You will receive notice of such credits in your periodic statements. Deposit of Substitute Checks: You agree that you will not deposit, without our prior written consent, “substitute checks” as defined by federal law or Image Replacement Documents that purport to be substitute checks and have not been previously endorsed by a bank. If you deposit such an item, you agree to reimburse us for losses, costs and expenses we may incur associated with warranty or indemnity claims.

Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable automated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjustment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account. You will receive notice of such credits in your periodic statements.

Automated Deposits. Funds deposited through an automated clearing house (ACH) or other electronic means are always provisional and are subject to the rules of the applicable automated clearing house (ACH) or other system. That is, they may be revoked prior to final settlement and are subject to adjustment by the originator. Interest in your account will be subject to adjustment in the event of any chargebacks. We will not provide you with next day notice of the receipt of an ACH credit to your account. You will receive notice of such credits in your periodic statements. Deposit of Substitute Checks: You agree that you will not deposit, without our prior written consent, “substitute checks” as defined by federal law or Image Replacement Documents that purport to be substitute checks and have not been previously endorsed by a bank. If you deposit such an item, you agree to reimburse us for losses, costs and expenses we may incur associated with warranty or indemnity claims. Withdrawals You may only make withdrawals with checks, drafts, or other withdrawal forms supplied or approved by the Bank. The Bank reserves the right to return unpaid any other form of order presented or any order incompletely or defectively drawn and to impose a charge therefore. We may also refuse a request for a withdrawal or check encashment if any document or identification required by law or the Bank in connection with the withdrawal or encashment has not been presented to us. Standard of Care: Most checks and other debit items are processed automatically, without review of each check or item. You agree that we are acting within common and reasonable banking practices by such automated processing and that the use of automated systems in the processing of checks constitutes ordinary care. You also agree that the Bank does not fail to exercise ordinary care in paying an item solely because its procedures don’t provide for sight-review, or provide for sight-review only for items above a threshold level, or on a sample basis, at the discretion of the Bank. The exercise of ordinary care does not require us to detect forgeries or alterations that could not be detected by an ordinary person acting with reasonable care.

Examples of Automated Deposits in a sentence

• For information about electronic fund transfer errors or inaccuracies relating to the Advantage Account, refer to the "Electronic Funds, Automated Deposits and Transfer" section of this Agreement.

• Upon entering the screen titled “Authorization Agreement for Automated Deposits (Credits),” select either “Checking” or “Savings” under “Choose Account Type” using the pull-down menu.

• Given the purpose of savings accounts, we think that banks should not be faulted for assessing a fee for every withdrawal in a month that exceeds three.38 Automated Deposits: As noted earlier, regular automated transfers from employers, government, or checking accounts build savings more effectively than individual saver deposits.

• Section H - Authorization for Direct Deposit(page 9 of application) Complete the Authorization For Automated Deposits form on page 9.

• The financial organization consists of Automated Teller Machine (ATM), Point of Sales, |Automated Deposits of Payroll, Electronic Cheques, Home Banking, Direct Deposit Funds (electronically), Debit Cards and Credit Cards etc.2.2.2 Teller BankingThe Teller Banking refers as an assemblage of Cathode Ray Tube (CRT) terminals, hard- copy terminals, printers, software and other devices that support the bank teller by conducting routine teller functions.