Common use of Processing Order Clause in Contracts

Processing Order. Processing order can impact the fees you pay. All credit transactions will be processed before debits. Debits will be processed in ascending amount order (low to high) by category and each category will process in the following order: Category 1 Cutoff Time1 In Branch Transactions Checks Negotiated in a Peoples Bank Branch ATM Transactions Transfers Person to Person Transactions 10:00 pm Overdraft Fees from previous business day’s transactions Deposit Return Items n/a Preauthorized Transactions n/a ACH 3:00 pm Bill Payments 6:00 pm Debit Card Transactions 10:00 pm Checks Processed at other FI n/a Peoples Bank Fees or Service Charges n/a 1All times are Pacific Standard Time. Daylight Savings Time applies when nationally in effect. Transactions that occur prior to the cutoff time will be processed on the same business day. The Bank uses ledger balance minus holds to determine whether funds are available in an account, and an overdraft may be assessed if funds are unavailable. The ledger balance is the balance in your account after all previous business day’s activity has been posted. Holds are defined as any debit card holds, check holds or operational holds and will be subtracted from the ledger balance before items are posted according to the processing order above. Please reference the Peoples Bank Overdraft Management Service document and Opt-In Disclosure for additional information on how overdraft fees are assessed at Peoples Bank, and ways to avoid them. These disclosures contain important information even if you opted out of certain overdraft protections.

Processing Order. Processing order can impact the fees you pay. All credit transactions will be processed before debits. Debits will be processed in ascending amount order (low to high) by category and each category will process in the following order: Category 1 Cutoff Time1 In Branch Transactions Checks Negotiated in a Peoples Bank Branch ATM Transactions Transfers Person to Person Transactions 10:00 pm Overdraft Fees from previous business day’s transactions Deposit Return Items n/a Preauthorized Transactions n/a ACH 3:00 pm Bill Payments 6:00 pm Debit Card Transactions 10:00 pm Checks Processed at other FI n/a Peoples Bank Fees or Service Charges n/a 1All times are Pacific Standard Time. Daylight Savings Time applies when nationally in effect. Transactions that occur prior to the cutoff time will be processed on the same business day. The Bank uses ledger balance minus holds to determine whether funds are available in an account, and an overdraft fee may be assessed if funds are unavailable. The ledger balance is the balance in your account after all previous business day’s activity has been posted. Holds are defined as any debit card holds, check holds or operational holds and will be subtracted from the ledger balance before items are posted according to the processing order above. Please reference the Peoples Bank Overdraft Management Service document and Opt-In Disclosure for additional information on how overdraft fees are assessed at Peoples Bank, and ways to avoid them. These disclosures contain important information even if you opted out of certain overdraft OD protections.