Returned Payment definition

Returned Payment. A payment that is not honored by your financial institution.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Returned Payment. $39 if your payment is returned unpaid the first time we present it to your bank.

Returned Payment means any payment submitted for utility service for which the utility is unable to receive the funds submitted for payment, and where the parties have not mutually agreed to void or otherwise disregard the submitted payment.

Examples of Returned Payment in a sentence

• Section 25 (Failed Or Returned Payment Instructions) applies if you do not pay our fees and charges for the Zelle® and Other Payment Services, including without limitation if we debit the Eligible Transaction Account for such fees, as described in this Section, and there are insufficient funds in the Eligible Transaction Account.

• Returned Payment or Insufficient Funds Fee: $25.00 fee if your payment by any method, including check, electronic transfer, home banking transaction or otherwise, is not honored, collected by us, or if we must return it to you because it cannot be processed for any reason.

• In no circumstance will your Late Fee or Returned Payment Fee ever be greater than your Minimum Payment due.

• We will charge the Returned Payment Fee shown in the “Interest and Fees Table” if a payment is returned unpaid.

• Penalty Fees: Late Payment Returned Payment Up to $25 Up to $25 Prime Rate: After the introductory rate, the APR will vary based on changes in the Index, the Prime Rate (the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks) published in the Wall Street Journal.

More Definitions of Returned Payment

Returned Payment means a payment made by a Serviced Mortgagor with respect to a Serviced Mortgage Loan prior to the Applicable Closing, which payment (i) was turned over to Purchaser or remitted by a Seller to an Investor or other third party, and (ii) was rejected or which a Seller was required to return and, in fact, returned (whether by credit or otherwise) in the period commencing on the Applicable Closing Date and ending on the 60th day following the Applicable Closing Date; provided, that any amount so rejected or required to be returned within such period that was subsequently collected by a Seller within such period shall not constitute a Returned Payment.

Returned Payment. Any amount paid by an Obligor on a Contract that, for ---------------- any reason is required to be returned to such Obligor.

Returned Payment has the meaning given to that term in Section 9.12.

Returned Payment has the meaning assigned to it in SECTION 12.5(b).

Returned Payment means a payment that is not honored or is returned by your financial institution.

Returned Payment means a payment that cannot be processed for any reason or that is not approved by Customer’s financial institution.

Returned Payment. We will charge you $29.00 for each return by a bank or other depository institution of a dishonored payment by you to us in connection with the Account. This fee will be in addition to all Finance Charges and fees we may collect from you and is not subject to refund or rebate.