Common use of Postdated Items Clause in Contracts

Postdated Items. The Bank may accept or pay a postdated Item drawn on your Account and received by the Bank on a date which is prior to the date of the Item or contrary to special instructions identified on the Item, unless the Bank receives notice and agrees in writing to be bound by such date or special instructions. Such notice must provide the same information and be provided in the same time frame as stop payment orders. The notice will be effective for the same time periods as for stop payment orders. If the Bank re-credits your Account after paying a postdated Item over a valid and timely notice, you agree to transfer to the Bank all of your rights against the payee or other holder of the Item, and to assist the Bank in legal action taken against that person. Account Fees The Bank may collect fees and charges on your Account in accordance with our Fee Schedule for Personal Accounts and other terms of your Account Agreement. Fees and charges may be deducted from your Account during a statement period other than the one in which it was incurred. You will not hold us Accountable for refusing to pay Checks because of insufficient funds as a result of these fees and charges. In addition to Checking, Money Market, Savings, and Certificate of Deposit Accounts, we may offer other services – such as treasurer’s Checks and savings bond redemption. Separate fees and agreements may apply to each of these services. We may change these fees at any time without notice unless otherwise required by law. We may list some of these fees in our Fee Schedule for Personal Accounts. You can get current information about all of these services and fees by calling the 1st Source Customer Service Center at ▇▇▇-▇▇▇-▇▇▇▇, visiting any one of our banking centers, or requesting this information in writing to: 1st Source Bank, Branch Administration, P.O. Box 1602, South Bend, IN 46634. The Check 21 Act Check 21 is a law enacted to simplify the way Checks are processed in the United States. This law created a document called a “substitute Check” which legally replaces the original paper Check.

Postdated Items. The Bank may accept or pay a postdated Item drawn on your Account and received by the Bank on a date which is prior to the date of the Item or contrary to special instructions identified on the Item, unless the Bank receives notice and agrees in writing to be bound by such date or special instructions. Such notice must provide the same information and be provided in the same time frame as stop payment orders. The notice will be effective for the same time periods as for stop payment orders. If the Bank re-credits your Account after paying a postdated Item over a valid and timely notice, you agree to transfer to the Bank all of your rights against the payee or other holder of the Item, and to assist the Bank in legal action taken against that person. Account Fees The Bank may collect fees and charges on your Account in accordance with our Fee Schedule for Personal Accounts and other terms of your Account Agreement. Fees and charges may be deducted from your Account during a statement period other than the one in which it was incurred. You will not hold us Accountable for refusing to pay Checks because of insufficient funds as a result of these fees and charges. In addition to Checking, Money Market, Savings, and Certificate of Deposit Accounts, we may offer other services – such as treasurer’s Checks and savings bond redemption. Separate fees and agreements may apply to each of these services. We may change these fees at any time without notice unless otherwise required by law. We may list some of these fees in our Fee Schedule for Personal Accounts. You can get current information about all of these services and fees by calling the 1st Source Customer Service Center at ▇▇▇-▇▇▇-▇▇▇▇, visiting any one of our banking centers, or requesting this information in writing to: 1st Source Bank, Branch Administration, P.O. Box 1602, South Bend, IN 46634. The Check 21 Act Check 21 is a law enacted to simplify the way Checks are processed in the United States. This law created a document called a “substitute Check” which legally replaces the original paper Check.