Common use of Overpayments and Reversals Clause in Contracts

Overpayments and Reversals. If funds to which you are not entitled are deposited to your account by mistake or otherwise, FSB may deduct these funds from your account, even if the deduction results in an overdraft. FSB can do this without giving you any prior notice or demand. Returned Items If a cashed or deposited item is returned to FSB at any time and for any reason, including for any breach of warranty claim, or according to any law, regulation, or rule (including a clearinghouse rule), by the bank on which it is drawn or any collecting bank, FSB may accept that return and charge the item back against your account without regard to whether the other bank finally paid the item or returned the item in accordance with any applicable midnight deadline or clearinghouse rule. FSB may debit your account for any interest you may have provisionally earned on the item. FSB may charge you a fee for each returned item. Different fees may apply to domestic and foreign items. FSB may debit your account for a returned item, including an indemnified copy of the original item, or an image replacement document (“IRD”), at any time on or after the business day it is returned to FSB by electronic, automated clearinghouse (“ACH”) or other means, or on the business day we receive notice that the item is being returned to FSB – whichever is earlier. FSB is not liable for any action or inaction to recover payment of a returned item. If one of your cashed or deposited items has been paid by the financial institution on which it is drawn and is later returned to FSB with a claim that there is a breach of warranty (for example, it bears a forged or missing endorsement or is altered in any way), that the item is counterfeit, bears an unauthorized signature, contains an encoding error, or should not have been paid for any other reason, FSB may debit your account for the amount of the item (plus any associated fees) and pay the amount to the claiming party. If you do not have sufficient available funds to cover a returned item, FSB may overdraw your account. FSB is not liable to you if there are insufficient funds to pay your items because FSB withdraws funds from your account or in any way restricts your access to funds due to a hold or debit to your account in connection with a returned item. You agree to immediately repay an overdraft caused by a return of a cashed or deposited item. In some cases the financial institution on which the returned check or other item is drawn may send an electronic notice of return, an indemnified copy of the original, or an image replacement document (“IRD”), instead of returning the item. FSB may act on, and you agree to be bound by, the electronic notice of return, or indemnified copy, or IRD just as if the original item had been returned.

Overpayments and Reversals. If funds to which you are not entitled are deposited to your account by mistake or otherwise, FSB may deduct these funds from your account, even if the deduction results in an overdraft. FSB can do this without giving you any prior notice or demand. Returned Items If a cashed or deposited item is returned to FSB at any time and for any reason, including for any breach of warranty claim, or according to any law, regulation, or rule (including a clearinghouse rule), by the bank on which it is drawn or any collecting bank, FSB may accept that return and charge the item back against your account without regard to whether the other bank finally finally paid the item or returned the item in accordance with any applicable midnight deadline or clearinghouse rule. FSB may debit your account for any interest you may have provisionally earned on the item. FSB may charge you a fee for each returned item. Different fees may apply to domestic and foreign items. FSB may debit your account for a returned item, including an indemnified indemnified copy of the original item, or an image replacement document (“IRD”), at any time on or after the business day it is returned to FSB by electronic, automated clearinghouse (“ACH”) or other means, or on the business day we receive notice that the item is being returned to FSB – whichever is earlier. FSB is not liable for any action or inaction to recover payment of a returned item. If one of your cashed or deposited items has been paid by the financial financial institution on which it is drawn and is later returned to FSB with a claim that there is a breach of warranty (for example, it bears a forged or missing endorsement or is altered in any way), that the item is counterfeit, bears an unauthorized signature, contains an encoding error, or should not have been paid for any other reason, FSB may debit your account for the amount of the item (plus any associated fees) and pay the amount to the claiming party. If you do not have sufficient sufficient available funds to cover a returned item, FSB may overdraw your accountaccount and charge an overdraft fee. FSB is not liable to you if there are insufficient insufficient funds to pay your items because FSB withdraws funds from your account or in any way restricts your access to funds due to a hold or debit to your account in connection with a returned item. You agree to immediately repay an overdraft caused by a return of a cashed or deposited item. In some cases the financial financial institution on which the returned check or other item is drawn may send an electronic notice of return, an indemnified indemnified copy of the original, or an image replacement document (“IRD”), instead of returning the item. FSB may act on, and you agree to be bound by, the electronic notice of return, or indemnified indemnified copy, or IRD just as if the original item had been returned.

Overpayments and Reversals. If funds to which you are not entitled are deposited to your account by mistake or otherwise, FSB may deduct these funds from your account, even if the deduction results in an overdraft. FSB can do this without giving you any prior notice or demand. Returned Items If a cashed or deposited item is returned to FSB at any time and for any reason, including for any breach of warranty claim, or according to any law, regulation, or rule (including a clearinghouse rule), by the bank on which it is drawn or any collecting bank, FSB may accept that return and charge the item back against your account without regard to whether the other bank finally finally paid the item or returned the item in accordance with any applicable midnight deadline or clearinghouse rule. FSB may debit your account for any interest you may have provisionally earned on the item. FSB may charge you a fee for each returned item. Different fees may apply to domestic and foreign items. FSB may debit your account for a returned item, including an indemnified indemnified copy of the original item, or an image replacement document (“"IRD”"), at any time on or after the business day it is returned to FSB by electronic, automated clearinghouse (“ACH”) or other means, or on the business day we receive notice that the item is being returned to FSB – whichever is earlier. FSB is not liable for any action or inaction to recover payment of a returned item. If one of your cashed or deposited items has been paid by the financial financial institution on which it is drawn and is later returned to FSB with a claim that there is a breach of warranty (for example, it bears a forged or missing endorsement or is altered in any way), that the item is counterfeit, bears an unauthorized signature, contains an encoding error, or should not have been paid for any other reason, FSB may debit your account for the amount of the item (plus any associated fees) and pay the amount to the claiming party. If you do not have sufficient sufficient available funds to cover a returned item, FSB may overdraw your account. FSB is not liable to you if there are insufficient insufficient funds to pay your items because FSB withdraws funds from your account or in any way restricts your access to funds due to a hold or debit to your account in connection with a returned item. You agree to immediately repay an overdraft caused by a return of a cashed or deposited item. In some cases the financial financial institution on which the returned check or other item is drawn may send an electronic notice of return, an indemnified indemnified copy of the original, or an image replacement document (“IRD”), instead of returning the item. FSB may act on, and you agree to be bound by, the electronic notice of return, or indemnified indemnified copy, or IRD just as if the original item had been returnedbeenreturned.