Common use of Encashment Clause in Contracts

Encashment. We may accept a check or negotiable instrument for encashment. At our option, we may hold a corresponding amount in an account for a reasonable period of time, as determined by our Funds Availability Policy. If we do so, we will provide you with a notice of the hold and explain our reason for doing so. All checks presented must be of current date. We are not obligated and will not accept any check or other instrument for deposit or encashment when they are post-dated (dated after the date of presentment). We are not obligated to accept any checks or other instruments for deposit or encashment when those items are dated over six months old.