Reasonable Cause to Doubt Collectability. We may hold for a reasonable amount of Nme the checks deposited into your HMBradley Account where we have reasonable cause to believe that the check is uncollecNble from the payor bank. If we extend the Nme when funds will be available for withdrawal for this reason, but do not provide you with wriaen noNce at the Nme of deposit, we will not assess any fees for subsequent overdrabs or return of checks or other debits to the account if: (1) the overdrab or return of the check would not have occurred except for the fact that the deposited funds were delayed because we doubted the collectability of the checks and (2) the deposited check or checks were paid by the payor bank. We may assess an Overdrab Fee or Returned Item Fee if it includes a noNce concerning overdrab and returned check fees with the noNce of excepNon required in 12 CFR § 229.13(g) and, when required, refund any such fees upon your request. The noNce will state that you may be enNtled to a refund of overdrab or returned check fees that are assessed if the check subject to the excepNon is paid and how you can obtain a refund.
Reasonable Cause to Doubt Collectability. The Credit Union may extend the hold placed on checks drawn on a Federal Reserve Bank or Federal Home Loan Bank, or cashier’s, certified, or teller’s check if the Credit Union reasonably believes the check is uncollectible from the bank and the branch office obtains approval to hold funds by the President or Vice President. The reason for the Credit Union’s belief that the check is uncollectible will be included in a notice given to the member prior to accepting the deposit.
