Common use of Holds on Other Funds Clause in Contracts

Holds on Other Funds. If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately, but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. CIT Bank reserves the right to place an extended hold on any deposits that are believed to be fraudulent or are suspicious. ECHECKING WITHDRAWALS No Paper or Remotely Created Checks or Drafts Permitted Paper checks, or remotely created checks or drafts prepared using your account information will not be payable from your eChecking account. Any such items presented for payment against your account will not be paid and will be returned marked “refer to maker.” You will be liable to us for any fees or charges we incur as a result of the presentation of such items.

Holds on Other Funds. If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately, but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. CIT Bank reserves the right to place an extended hold on any deposits that are believed to be fraudulent or are suspicious. ECHECKING WITHDRAWALS No Paper or Remotely Created Checks or Drafts Permitted Paper checks, or remotely created checks or drafts prepared using your account information will be not be payable from your eChecking account. Any such items presented for payment against your account will not be paid and will be returned marked “refer to maker.” You will be liable to us for any fees or charges we incur as a result of the presentation of such items.