Common use of General Funds Availability Policy Clause in Contracts

General Funds Availability Policy. Information contained in this Section is provided to assist you in understanding Bank’s Funds Availability Policy. All deposits into accounts opened through the Bank are processed at a Bank processing facility. Bank makes funds available according to the type of deposit and when the funds are applied or credited to your Account. Some types of deposits may not be available for immediate use. When Bank delays the availability of funds or place a hold on a deposit made to your Account, you may not withdraw those funds, and Bank will not use them to pay any debits, such as ACH transfers or payments, check payments or, if available, transactions using your Debit Card during the hold period. Bank has the right to refuse any deposit. If final payment is not received on any item you have deposited into your Account, or if any direct deposit, ACH transfer credit is returned to Bank for any reason, you agree to pay Bank the amount of the returned item.

General Funds Availability Policy. Information contained in this Section is provided to assist you in understanding Bank’s Funds Availability Policy. All deposits into accounts opened through the Bank are processed at a Bank processing facility. Bank makes funds available according to the type of deposit and when the funds are applied or credited to your Account. Some types of deposits may not be available for immediate use. When Bank delays the availability of funds or place places a hold on a deposit made to your Account, you may not withdraw those funds, and Bank will not use them to pay any debits, such as ACH transfers or payments, check payments or, if available, transactions using your Debit Card during the hold period. Bank has have the right to refuse any deposit. If final payment is not received on any item you have deposited into your Account, or if any direct deposit, ACH transfer credit is returned to Bank for any reason, you agree to pay Bank the amount of the returned item.