UNCLEARED FUNDS. 6.1. Uncleared funds, which may be credited to the account shall not be available for the Customer to draw against. If such uncleared cheques are, however, credited and/or allowed to be drawn against, the Bank shall have the right to debit the Customer’s account, in case they are lost and/or not realised.
UNCLEARED FUNDS. 8.1 Cheques paid into the Account are sent for collection to the bank/branch on which they are drawn. Until these cheques are honoured, they are treated as ‘uncleared’ effects. No payment may be made against such uncleared effects, unless specifically authorised by the Bank. Cheques paid into the Account, which are subsequently returned unpaid, will be debited to the Account and forwarded to the Customer for the necessary action.
UNCLEARED FUNDS. 15.2 We have in place procedures and safeguards to ensure that electronic payments can be carried out in a safe and secure manner. We will only make a CHAPS payment if you have sufficient cleared funds in your account.
UNCLEARED FUNDS. Certain electronic money Payment Instruments may entitle the Customer to have electronic money credited to his account before XPATE receives the funds from the Customer’s designated financial institution or payment service provider. Hereinafter, the funds credited in the Customer’s account and not yet received by XPATE will be referred to as “Uncleared Funds”. If the Customer chooses to use any of such Payment Instruments, the Customer promises to have funds available in the Customer’s financial institution account until we receive the cleared funds, which could take several days or longer. If Customer uses or spends Uncleared Funds, and for any reason, XPATE does not receive the Uncleared Funds amount after a reasonable time, XPATE may, without limits to other rights or remedies, deduct the Uncleared Funds amount from the Customer’s Account (which could make the Account to have a negative balance - see “Negative Balance” in section 9), obtain them from the Customer’s financial institution or payment service provider, as applicable, or collect them from the Customer in other ways.
UNCLEARED FUNDS. LBM323 – 10.19
UNCLEARED FUNDS. 5.1. Uncleared funds shown on the account will not be made available for withdrawal by the Customer. In the event that there has been any amount credited or debited against uncleared funds, the Bank reserves the right to debit the Customer’s account in case the cheque is lost or returned unpaid.
UNCLEARED FUNDS. Insofar as the Custodian suffers Loss as a result of crediting the Client’s Managed Account in respect of any instrument, advanced payment, wire transfer or remittance of funds that does not then clear, the Custodian may debit the Client’s Managed Account accordingly.
