Account Reconciliation definition

Account Reconciliation. The member agrees to carefully review their account statement and each transaction as soon as possible. If there are any errors or discrepancies regarding checks deposited through the Service including, without limitation, unauthorized transactions, signatures or alterations, the Member agrees to promptly notify the Credit Union of such errors or discrepancies within thirty (30) days of the original Remote Deposit transaction. It is the responsibility of the member to establish and maintain procedures to safeguard against unauthorized deposits. If said member’s statement shows Remote Deposits that the member did not make, the Credit Union must be informed immediately. If the member does not tell the Credit Union within sixty (60) days after the first statement containing the problem or error is made available. The member may not get back any money lost after the sixty (60) days if the Credit Union can demonstrate that they could have prevented the unauthorized transaction if the member had informed the Credit Union in a timely fashion. Unauthorized Access; Security Procedures: The member shall be solely responsible for protecting against unauthorized access to the Service, and any and all losses and damages arising from any unauthorized access to the program. The member shall establish physical security, passwords, and other security procedures necessary to ensure the confidentiality of access features. The member shall make such procedures and security features known only to them. The Credit Union shall have no obligations, liability, or control, either directly or indirectly over said procedures, or the failure of said member to maintain said procedures. Furthermore, the member agrees to, and understands that, the use of passwords and the Credit Union service instructions is confidential and agrees to assume all risks of accidental disclosure or inadvertent use by any part whatsoever, whether such disclosure of use are on account of the member’s negligence or are deliberate acts. Member acknowledges that no person from the Credit Union will ever ask for any passwords, and that the Credit Union employees do not need and should not ask for passwords. Members using this service shall not change its passwords periodically and whenever anyone who has had access to a password is no longer employed or authorized by it to use the Credit Union service. The Credit Union may require said member to change its passwords at any time. The Credit Union may deny access t...
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Account Reconciliation. This refers to the act of checking whether the balance in ones' checkbook confirms with the corresponding bank statement. Account Review: It refers to the act of reviewing the credit history of a consumer by a creditor or lender. Activate: Usually, on receiving a new credit card, the owner has to make a call to the card issuer to inform them about it. Only then does the issuer activate the card or make it functional. It is a precautionary step to confirm that the correct person has received the card, in order to prevent fraudulent activities.
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Account Reconciliation. Statement Copy Fee: Deposited Item Return Fee: Wire Transfer (Outgoing): International Wire Transfer: Inactive Account Fee** Returned Mail Fee: $25.00 3X5 Size $20.00 per year 7X10 Size $70.00 per year 5X5 Size $30.00 per year Drilling Fee See Teller
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Examples of Account Reconciliation in a sentence

  • This information shall be provided on the Power Account Reconciliation File (PRF), which is an electronic transaction between the Contractor and the State fiscal agent.

  • These services include: (i) Positive Pay and Account Reconciliation Services and (ii) ACH Fraud Filters.

  • For as long as no Event of Default has occurred, Buyer shall on or about the fifteenth day of each month reconcile the Seller’s Account (“Account Reconciliation”) by either crediting or further debiting the Seller’s Account by the difference between the actual amount debited since the date of the last Account Reconciliation and the Specific Percentage of the actual Future Receipts collected by the Seller since the date of the last Account Reconciliation.

  • The Account Reconciliation Summary is used to assist in balancing online account balances with the Customer’s bank statement.

  • If our Account Reconciliation reports of checks presented against your account matches the information you provide to us regarding the checks you have issued, you agree that we may treat the matching items as validly issued and properly payable, and that we may process such items for payment.

  • POWER Account Reconciliation for benefit periods ending prior to December 31, 2017 shall follow the policy and procedures documented in the MCE Policy and Procedures Manual.

  • Failure by Buyer to make an Account Reconciliation at any time for one or more months or portions thereof shall not be deemed as a breach of Buyer’s obligation hereunder and each Account Reconciliation shall be made for the entire period of time since the date of the last Account Reconciliation.

  • Full Account Reconciliation completes the analysis and produces a recon statement.

  • After the 12 month calendar year reconciliation period, the Contractor shall report any applicable POWER Account rollover amounts determined in accordance with Section 5.8.2.1 or any discounts determined in accordance with Section 5.8.2.2 to the State fiscal agent on the POWER Account Reconciliation file (PRF), as set forth in Sections 5.8.2 and 5.8.3 below.

  • Account Reconciliation - You are responsible for promptly examining each statement upon receiving it and reporting any irregularities to the Credit Union.