Payment of Checks. The Credit Union is under no obligation to pay a check that is more than six (6) months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. We may return all checks drawn on your checking account unpaid for any reason that checks are normally returned, such as, for example, insufficient available funds or litigation.
Payment of Checks. The Credit Union is under no obligation to pay a check that is more than 6 months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. All checks drawn on your Checking Account may be returned by us unpaid for any reason that checks are normally returned, such as, for example, insufficient funds, uncollected funds, or litigation. Overdrafts (NSF Transactions). The Credit Union is under no obligation, unless it has contracted to the contrary, to pay a check you have written or any other transaction presented for payment from your Checking Account if it would result in this Checking Account being overdrawn (such a check or other item presented for payment your Checking Account when insufficient available funds are on deposit in the account is known as an “NSF Transaction”). However, the Credit Union may pay such check or other transaction and charge the amount of the resulting overdraft plus any applicable service charge against your Prime Share Savings Account or any of your other accounts. Subject to applicable law, the Credit Union may pay checks or other presented for payment from your Checking Account (including checks payable to the Credit Union or on which the Credit Union may be liable) in any order determined by the Credit Union, even if paying a particular check or other transaction results in an insufficient balance in your Checking Account to pay one or more other transactions that otherwise could have been paid out of your Checking Account. The Credit Union has the option of honoring an NSF Transaction or dishonoring it to avoid the creation of an overdraft. Honoring of past overdrafts does not obligate the Credit Union to honor them in the future. The Credit Union is not required to send prior notice of checks or other transactions returned because they would, if paid, overdraw the account. The amount by which your account is overdrawn is due and payable to the Credit Union upon our demand, and you agree to pay the full amount of it to us, together with any applicable fees as set forth in the Fee Schedule. You also authorize us, in such a case, to apply from any other shares or deposits you may have in the credit union (except for an Individual Retirement Accounts or other account permitting tax deferrals or providing other tax benefits under state or federal law) any amount necessary to pay such overdrawn amount and fees. If this is a joint account (that is, if two ...
Payment of Checks. The Credit Union is under no obligation to pay a check that is more than 6 months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. All checks drawn on your Checking Account may be returned by us unpaid for any reason that checks are normally returned, such as, for example, insufficient available funds, uncollected funds, or litigation. We may disregard any information on any check other than the signature of the drawer, the amount, and any magnetic encoding. You agree that we do not fail to exercise ordinary care in paying an item solely because our procedures do not provide for sight examination of items. Postdated and Stale Dated Checks. We may pay any check without regard to its date unless you notify us of a postdating. The notice must be given to us in time so that we can notify our employees and reasonably act upon it. The notice must accurately describe the check, including the exact number, date and amount. You understand that the exact information is necessary for the Credit Union’s computer to identify the check. We are not responsible if you give us an incorrect or incomplete description or untimely notice. You may make an oral notice which lapses in fourteen (14) calendar days unless confirmed in writing. The Fee for a Notice of Postdating is the same as the fee for a Stop Payment Order; please refer to our Fee Schedule for the amount of the fee. A written notice is effective for six (6) months and may be renewed in writing from time to time. You agree not to deposit checks, drafts, or other items before they are properly payable. We are not obligated to pay a check drawn on your account that is presented more than six (6) months past its date. Remotely Created Checks. A remotely created check is a check created by someone other than the person on whose account the check is drawn. A remotely created check is generally created by a third-party payee as authorized by the owner of the account on which the check is drawn. Authorization is usually made over the telephone or through online communication. The account owner does not sign a remotely created check. In place of the owner’s signature, the remotely created check usually bears a statement that the owner authorized the check or bears the owner’s printer or typed name. If you wish to stop payment of a remotely created check, we may require you to close your account.
Payment of Checks. The Depositor will issue checks only against sufficient funds available in the Account. The Cooperative will not have the obligation of honoring checks issued against insufficient or uncollected funds and the Cooperative will not be in any way responsible of any damage resulting as a result thereof. The Cooperative will not honor post-dated checks, nor checks containing a date greater than 180 days from the date issued. In case the Cooperative presents to payment a check not dated, the Cooperative will be authorized, but not obligated, to consider the checks at all effects, as dated the day presented into payment.
Payment of Checks. If we inadvertently pay a check for which an electronic stop payment order is effective, any service charges that result, including the stop payment fee, will be reversed and we will reimburse you for any Damages up to the amount of the check, provided you prove that you are not liable to the payee to whom the check was drawn. We may also seek recovery of the amount from the party who received the proceeds of the check, and you will assist us in doing so to the extent we reasonably request. Your obligations under this subsection (e) will survive the termination of this Agreement.
Payment of Checks. From and after the Closing Date, Buyer agrees to pay, to the extent of sufficient available funds on deposit, all properly drawn checks, drafts, and negotiable orders of withdrawal timely presented to it by mail, over its counters, or through clearings if such items are drawn by depositors whose Deposits or accounts on which such items are drawn are Deposits, whether drawn on the check or draft forms provided by Seller, for at least one hundred twenty (120) days after the Closing Date, or on those provided by Buyer. In addition, Buyer shall, in all other respects, discharge the duties, liabilities and obligations with respect to the Deposits to the extent such duties, liabilities or obligations occur following the Closing.
Payment of Checks. The Credit Union is under no obligation to pay a check that is more than 6 months old. Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a check. All checks drawn on your Share Draft Account may be returned by us unpaid for any reason that checks are normally returned, such as, for example, insufficient funds, uncollected funds, or litigation. We may disregard any information on any check other than the signature of the drawer, the amount, and any magnetic encoding. You agree that we do not fail to exercise ordinary care in paying an item solely because our procedures do not provide for sight examination of items.
Payment of Checks. The Company agrees that FI may treat all issued checks as validly issued and properly payable and that FI may process such items for payment regardless of the Company’s use of the ARPP Services. All checks issued by the Company and cleared by FI are paid initially and then, based on exception criteria, presented to the Company as an Exception Item for which the Company must decide to pay or return. If the Company chooses to return the item, the transaction will be returned by the Bank with the notation “return to maker.” If FI decides to return the item this will not be reflected in the status of the check in the register where the status of the check will remain “paid”. The Company is responsible to use the ARPP Services and make a decision to pay or return an item within the designated cut-off times for exception processing. Cut-off times are defined on the Site. FI must receive the pay or return decision by the designated cutoff time otherwise the Exception Items shall be processed pursuant to the Company’s “default decision” provided during enrollment. If the item is re-submitted after such item is returned, it will be recognized as a duplicate “paid” item since the FI has already processed the item before. The Company will again be asked to decide to pay or return the item.
Payment of Checks. If we have paid a check under circumstances giving a basis for objection by you, we shall be subrogated to the rights of: — Any holder in due course on the check against the drawer or maker; — The payee or any other holder of the check against the drawer or maker either on the item or under the transaction out of which the item arose; and — The drawer or maker against the payee or any other holder of the check with respect to the transaction out of which the check arose.
Payment of Checks. The Bank will pay checks drawn on Depositor's account and other charges (such as ATM withdrawals, bank fees, and preauthorized transfers) that are presented for payment on a banking day in any order. If there are not available funds in the account to pay all of the checks and other charges against the account (such as ATM withdrawals, bank fees, and preauthorized transfers) presented on a banking day, we may decide to return the items. You are responsible to cover any items that overdraw the account.
