Common use of Returned Transactions Clause in Contracts

Returned Transactions. Payees or the United States Postal Service may return payments for various reasons such as, but not limited to, ▇▇▇▇▇’s forwarding address expired, invalid bank routing number, invalid bank account number, Payee remittance address is not correct, Payee is unable to identify an account, or a Payee account is paid in full. In addition, a Payee may refuse to accept a payment. If any type of return occurs which is not caused by our negligence we will have no liability for any resulting loss or damage. We will use commercially reasonable efforts to provide you with notice of returned payments and will void and credit payments. You agree that we shall not have any liability for any such returned payments. Unless otherwise directed, we will void such payments. You hereby authorize us to credit such payments to your Payment Account through the ACH.

Returned Transactions. Payees or the United States Postal Service may return payments for various reasons such as, but not limited to, ▇▇▇▇▇Payee’s forwarding address expired, invalid bank routing number, invalid bank account number, Payee remittance address is not correct, Payee is unable to identify an account, or a Payee account is paid in full. In addition, a Payee may refuse to accept a payment. If any type of return occurs which is not caused by our negligence we will have no liability for any resulting loss or damage. We will use commercially reasonable efforts to provide you with notice of returned payments and will void and credit payments. You agree that we shall not have any liability for any such returned payments. Unless otherwise directed, we will void such payments. You hereby authorize us to credit such payments to your Payment Account through the ACH.