Available Balance. Each time you use your Card, you authorize us to reduce the value available on your Card by the amount of the transaction and any applicable fees, taxes or other charges assessed by the merchant. Transactions that exceed the remaining balance on your Card are prohibited and should be declined at the point of sale. If, notwithstanding an insufficient balance, an authorization is received by the merchant or the merchant uses other means to proceed with the transaction, then you agree to reimburse us for any amount in excess of the Card balance for such a transaction. Refunds for Purchases Made with the Card. Any refund for goods or services purchased with the Card will be made in the form of a credit to the Card and pursuant to the refund policy of the merchants where such goods or services were purchased. If you receive a credit, the credit may not be added to the available funds on the Card for seven (7) business days. You are not entitled to receive a cash refund. Disputes with Merchants. We are not responsible for the delivery, quality, safety, legality or any other aspect of goods and services that you purchase from others with your Card. All such disputes should be addressed to the merchants from whom the goods and services were purchased.
Available Balance. Each time you use your Card, you authorize us to reduce the value available on your Card by the amount of the transaction and any applicable maintenance fees, taxes or other charges assessed by the merchant. Transactions that exceed the remaining balance on your Card are prohibited and should be declined at the point of sale. If, notwithstanding an insufficient balance, an authorization is received by the merchant or the merchant uses other means to proceed with the transaction, then you agree to reimburse us for any amount in excess of the Card balance for such a transaction. You agree that we may lock or revoke the Card, without notice, if we do not receive funds from you in the full amount of the activated balance on the Card. Unclaimed Funds – Escheat. If our records show that you have not used the Card within a time period set by state law, the amount remaining on the Card may become unclaimed property subject to escheat under state unclaimed property laws. If the amount remaining on the Card becomes unclaimed property subject to a state unclaimed property law, we will be required to escheat the available balance to the state in an amount and at the time required by the state law. At that time, you will lose the ability to use the Card. If escheat occurs, you may inquire about the status of the Card funds by calling 0.000.000.0000. Refunds for Purchases Made with the Card. Any refund for goods or services purchased with the Card will be made in the form of a credit to the Card and pursuant to the refund policy of the merchants where such goods or services were purchased. If you receive a credit, the credit may not be added to the available funds on the Card for seven (7) business days. You are not entitled to receive a cash refund. A credit to a zero balance Card will reinstate the Card. Disputes with Merchants. We are not responsible for the delivery, quality, safety, legality or any other aspect of goods and services that you purchase from others with your Card. All such disputes should be addressed to the merchants from whom the goods and services were purchased.
Available Balance. Customer acknowledges and agrees that (i) the ledger balance for any Account maintained by Customer at Bank will equal the actual balance in Customer’s account at the beginning of a specific Business Day, excluding any holds or pending transactions that have not posted to the account, (ii) the Available Balance for any account maintained by Customer at Bank will equal the amount of funds available for immediate withdrawal or use, as set forth in the definition of “Available Balance” in Exhibit A, (iii) BASED ON THE PRACTICES OF MERCHANTS AND OTHER COUNTERPARTIES, DEBIT CARD TRANSACTIONS CAN APPEAR AND DISAPPEAR IN AN ACCOUNT OVER A PERIOD OF DAYS BEFORE FINALLY CLEARING WHICH CAN IMPACT THE REPORTED AVAILABLE BALANCE, (iv) CUSTOMER CAN INCUR OVERDRAFT CHARGES BY RELYING ON ANY AVAILABLE BALANCE INFORMATION, (v) account balance information provided online by Bank is not intended as a substitute for proper account maintenance, including the recording of Customer’s debits in an account register, and (vi) THE AVAILABLE BALANCE FOR ANY ACCOUNT MAINTAINED BY CUSTOMER AT BANK DOES NOT REFLECT OUTSTANDING CHECKS OR DEBIT ITEMS THAT HAVE NOT BEEN PRESENTED FOR PAYMENT. Customer will be solely responsible for any liabilities, damages, costs or fees incurred by Bank with respect to any actions or omissions of Customer related to Customer’s available balance, along with any overdraft fees in effect from time to time. All transfers are subject to a sufficient Available Balance in Customer’s Account at the time of the transfer and may be limited by controls used by Bank to manage the risk associated with such transactions.
Available Balance. Your account’s Available Balance is our most current record of the amount of money in your account that is available for use or withdrawal (subject to the additional limitations and restrictions set forth in this Agreement, including as further explained in the Disclosures and Schedules, including without limitation, “Overdraft Protection – What You Need to Know About Overdraft Protection”; “Electronic Fund Transfers Agreement and Disclosures”; and “Funds Availability Policy”). The account’s Available Balance includes adjustments for factors such as restrictions or holds placed on deposited funds in your account, and restrictions or holds placed on funds in your account as a result of preauthorization holds in connection with the use of your Freedom Debit Card. Each of these restrictions and holds affect (reduce) the availability of funds in your account for use or withdrawal, including without limitation, to pay for checks drawn on your account, debits, Freedom Debit Card purchases, ACH transactions, ATM withdrawals, fees, and any other withdrawal or payment transactions on your account. We use the account’s Available Balance to authorize your transactions during the day, to pay your transactions in our nightly/daily processing, in determining whether the account has been overdrawn, and in assessing fees in connection with any overdrafts. IT IS VERY IMPORTANT TO UNDERSTAND THAT YOU MAY STILL OVERDRAW YOUR ACCOUNT EVEN THOUGH THE ACCOUNT’S AVAILABLE BALANCE APPEARS TO SHOW THERE ARE SUFFICIENT FUNDS TO COVER A TRANSACTION THAT YOU WANT TO MAKE. Your account’s Available Balance may not reflect every transaction you have initiated or previously authorized, including without limitation, your outstanding checks, automatic bill payments that you have authorized, authorized automatic withdrawals (such as recurring Freedom Debit Card transactions, transfers, and ACH transactions that we have not received for payment or received too close to our nightly/daily processing to include in your account’s Available Balance), the final amounts of Freedom Debit Card purchase (e.g., we may authorize a purchase amount prior to a tip you add), Freedom Debit Card transactions that have been previously authorized but not sent to us for final pay (e.g., we must release the transaction authorization hold after 3 business days even though the transaction may be sent for payment from your account, which we must honor, at a later date), and other outstanding transactions that have n...
Available Balance. The Credit Union reserves the right to refuse any transaction that would draw upon insufficient available funds, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. For information on how we calculate your available balance, please refer to the “Your Liability for Overdrafts” section of your Membership and Account Agreement.
Available Balance. Your Available Balance may fluctuate from day to day based upon the Transactions made against the balance in your Account. The Available Balance reduces when we receive notice of a Transaction, not when a sales draft is paid. If you make a Transaction that exceeds your Available Balance or you overdraw your Account, you agree to deposit sufficient funds (or make a payment directly to us) to cover the overdraft.
Available Balance. The Current Balance (i) minus any pending electronic transactions yet to be debited, posted, or settled in your Account including but not limited to authorized pending payment transactions, POS Transactions, and merchant payment authorizations; plus (ii) any deposits that we have made avai lable to you even though we have not yet received good funds (i.e., when we give you access to funds from a deposited check even though we have not yet received funds from the financial institution on which the check is drawn). For example, when you present your Debit Card to a merchant, the merchant generally will ask us to authorize the transaction. If we provide this authorization, usually a temporary merchant payment authorization hold is placed on your funds equal to the amount of the transaction and this amount will not be included in your Available Balance. Also, some merchants, like hotels and rental car companies, will create an authorized pending transaction and place a temporary merchant payment authorization hold on your Account equal to or greater than the amount of the transaction in an attempt to ensure sufficient available funds will be in your Account when you make final payment (e.g., when you check out of the hotel or return the rental car). The amount of this temporary merchant payment authorization hold also won’t be included in your Available Balance. Your Available Balance does not reflect any check you have written against your Account that has not yet been presented for payment. Your Available Balance is based on your Current Balance less:
Available Balance. Mechanics Bank uses the following to determine the balance that is available to pay items to your account each day. First, we take your present balance, which is your balance at the end of the previous business day (also called your current or ledger balance). This will be the balance that appears on your Bank statement each day. Then, we add or subtract any transactions known to the Bank that you’ve made to your account today (e.g., deposits, debit card transactions, ATM withdrawals, and payments scheduled for today). It does not include any checks you may have written but have not yet been cashed. The remaining balance, less any holds placed on deposits, is your Available Balance (also called your collected balance). The Available Balance used for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance (previous day’s statement balance), plus deposits, less any holds on deposited funds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege limit. For accounts with Extended Coverage, your Overdraft Privilege limit will be considered when authorizing ATM and everyday debit card transactions. BUSINESS DAYS For the purpose of this Agreement, our business days are Monday through Friday, excluding Saturdays, Sundays, and federal holidays. CASH REPORTING REQUIREMENT The Bank Secrecy Act (“BSA”), a federal law, requires all financial institutions to report certain currency transactions to the Financial Crimes Enforcement Network (“FinCEN”). In order to satisfy our BSA requirement, we may, and, in many cases must, request certain information about the individual presenting the transaction, as well as the organization or individual for whom the transaction is being conducted. This includes the individual’s/organization’s full name, permanent street address, social security number or other taxpayer identification number, identification number (such as a driver’s license or passport), date of birth (if applicable), and business, occupation or profession. If you or another person deposits cash to your account and are unwilling to provide information we request to fulfill our reporting duties, we will refuse the transaction. CHANGE OF ACCOUNT OWNERSHIP, ADDRESS OR AUTHORIZED SIGNERS You agree to notify us immediately in writing of any change in your name, address, email address (if provided), or authorized signer(s) on your account. We may require a new signature card or other documentation befo...
Available Balance. Each time you use your Card, you authorize us to reduce the value available on your Card by the amount of the transaction and any applicable fees, taxes or other charges assessed by the merchant. Transactions that exceed the remaining balance on your Card are prohibited and should be declined at the point of sale. If, notwithstanding an insufficient balance, an authorization is received by the merchant or the merchant uses other means to proceed with the transaction, then you agree to reimburse us for any amount in excess of the Card balance for such a transaction. Refunds for Purchases Made with the Card: Any refund for goods or services purchased with the Card will be made in the form of a credit to the Card and pursuant to the refund policy of the merchants where such goods or services were purchased. If you receive a credit, the credit may not be added to the available funds on the Card for seven (7) business days. You are not entitled to receive a cash refund. Disputes with Merchants: We are not responsible for the delivery, quality, safety, legality or any other aspect of goods and services that you purchase from others with your Card. All such disputes should be addressed to the merchants from whom the goods and services were purchased. Reversal: Point of sale transactions cannot be reversed. If you authorize a transaction and then fail to make a purchase of that item as planned, the approval may result in a hold of funds equal to the estimated purchase amount, for up to seven (7) days. Card Fees: The following fees apply to your Card, except where prohibited or modified by applicable law: Description Fee *Monthly Inactivity Fee $4.95 (After six (6) months of no Card Account activity) Card Replacement Fee $5.00 per replacement Card Foreign Currency Conversion Fee 3% of the transaction amount *Card Account activity is defined as Card loads from the Program Sponsor.
Available Balance. Your Available Balance may fluctuate from day to day because it is dependent upon changes in the bal- ance in your Account. Your Available Balance may differ from your Free Credit Balance and Combined Asset Value. Shortly after BNY Mellon is notified of a Transaction, your Available Balance is reduced, not when a sales draft or Cash Advance draft is paid. For example, your Account may be debited (and Available Balance reduced) on the day an item is presented by electronic or other means, or at an earlier time based on notifi- cation received by us that an item drawn on your Account has been deposited for collection at another financial institution. When you use your Card, the charge or reduction to your Available Balance generally occurs immediately, and you understand (with the exception of preauthorized Card Transac- tions) that you have no right to stop payment on most Card Transactions. You understand that Authorizations will reduce your Available Balance by the amount of the Authorization even if the Authorization does not result in a Transaction. Note that an Authorization will reduce your Available Balance until the Transaction is completed in whole or in part, or after the expira- tion of a time period specified by us.
