Electronic Presentment Sample Clauses

Electronic Presentment. This Account may be debited on the day an item or requested authorization is presented by electronic or other means, or at an earlier time based on notification received by Bank that an item drawn on this account has been deposited for collection in another financial institution, or that an item deposited into this Account, is being returned. A determination of the account balance for purposes of making a decision to dishonor an item for insufficiency of collected available funds may be made at any time between the receipt of such presentment or notice and the time of return of the item, and no more than one such determination need be made. LOST CHECKS: When we cash a check for you or accept a check for deposit to your Account, we are acting as your agent in collecting the check. We are not responsible if the check is lost or delayed in the collection process. If the check is lost during the collection process, we may charge your account for the amount of the check. If the financial institution on which the check is drawn gives us a photocopy or electronic image of the check or debit slip representing the check, we may charge your account for the amount of the check. You agree to recreate the transaction and/or provide Bank all information requested regarding such lost item. STALEDATED ITEMS: Bank is not required to pay any item presented more than six months after its date. However, Bank may in its sole discretion pay such item in good faith, and ▇▇▇▇▇▇▇▇▇ agrees that Bank is acting in good faith as long as there is not a stop payment order in effect when it pays the item.

Electronic Presentment. The depositor's account may be debited on the day an item is presented by electronic or other means, or at an earlier time based on notification received by the Bank that an item drawn on their account has been deposited for collection in another financial institution. A determination of the depositor's account balance for purposes of making a decision to dishonor an item for insufficiency of available funds may be made at any time between the receipt of such presentment or notice and the time of return of the item, and no more than one such determination need be made.

Electronic Presentment. Posting We may charge your account on the day that a check or other transaction is presented (or returned) to us for payment. We may also charge your account or place a hold on funds at an earlier time if we receive notice that an item or transaction has been deposited for collection in another institution or is being processed against your account by a merchant (for example, at a point-of-sale terminal). Some merchants may obtain authorizations in advance for point-of-sale transactions in an amount greater than the final transaction amount. This could affect the balance available in your account to cover other transactions. We are not responsible for damages or wrongful dishonor if any item is not paid because of insufficient funds resulting from these procedures. We reserve the right to process and post transactions on your account in any order we determine. Generally, we do not sort transactions based on dollar amount, but process them as they are received, and we generally process checks by check number sequence. The order in which you make withdrawals from your account is not necessarily the order in which we post the transactions to your account. This processing order may affect whether or not you incur an overdraft or NSF/overdraft fees.

Electronic Presentment. Customer acknowledges that its account may be debited on the day an item is presented by electronic or other means, or at an earlier time based on notification received by Bank One that an item drawn on the account has been deposited for collection in another financial institution. A determination of the account balance for purposes of making a decision to dishonor an item Bank One Multi-Party Blocked Account Agreement (04-02) (Requires Default Notice) for insufficiency of available funds may be made at any time between the receipt of such presentment or notice and the time of return of the item, and no more than one such determination need be made.

Electronic Presentment. This Account may be debited on the day an item or requested authorization is presented by electronic or other means, or at an earlier time based on notification received by Bank that an item drawn on this account has been deposited for collection in another financial institution, or that an item deposited into this Account, is being returned. A determination of the account balance for purposes of making a decision to dishonor an item for insufficiency of collected available funds may be made at any time between the receipt of such presentment or notice and the time of return of the item, and no more than one such determination need be made. LOST CHECKS: When we cash a check for you or accept a check for deposit to your Account, we are acting as your agent in collecting the check. We are not responsible if the check is lost or delayed in the collection process. If the check is lost during the collection process, we may charge your account for the amount of the check. If the financial institution on which the check is drawn gives us a photocopy or electronic image of the check or debit slip representing the check, we may charge your account for the amount of the check. You agree to recreate the transaction and/or provide Bank all information requested regarding such lost item. STALEDATED ITEMS: Bank is not required to pay any item presented more than six months after its date. However, Bank may in its sole discretion pay such item in good faith, and ▇▇▇▇▇▇▇▇▇ agrees that Bank is acting in good faith as long as there is not a stop payment order in effect when it pays the item. POSTDATED ITEMS: Each Authorized Signatory agrees not to issue postdated checks or other items. If postdated checks or other items are issued by any Authorized Signatory, Bank may return them unpaid, or if paid by Bank, prior to date of check or item, in its sole and absolute discretion, Bank is released from and indemnified for, and held harmless from, any and all claims, damages and/or costs, including its reasonable attorney’s fees and costs, related to paying, accepting or certifying such postdated checks and/or other items prior to the date set forth on said check(s) and/or other item(s) unless Authorized Signatory has given notice to the Bank of the postdated item by describing the check with reasonable certainty.

Electronic Presentment. This Account may be debited on the day an item or requested authorization is presented by electronic or other means, or at an earlier time based on notification received by Bank that an item drawn on this account has been deposited for collection in another financial institution, or that an item deposited into this Account, is being returned. A determination of the account balance for purposes of making a decision to dishonor an item for insufficiency of collected available funds may be made at any time between the receipt of such presentment or notice and the time of return of the item, and no more than one such determination need be made. A lost check may not be returned to us for some time. Despite any delay, we may charge your Account when we receive either the returned check, a copy of the check, or a notice of return.