Transaction Posting Order. Generally, most transactions are posted to your account according to the date and time in which these transactions are presented to the Credit Union. Certain transactions may be posted after regular Credit Union hours during nightly processing. Generally, transactions are posted throughout the day, in the order received by the Credit Union. The table below provides additional details on the order in which different types of transactions are posted to your account. Transaction Category When Posted to Your Account Teller transactions (deposits, internal transfers, withdrawals, checks cashed, loan payments) At the time and in the order you request the transaction Phone transactions (internal transfers, withdrawals, loan payments) At the time and in the order you request the transaction Outgoing wire transfers (debits) At the time you request the wire transfer, allowing reasonable time for the credit union to process the wire Incoming wire transfers (credits) Upon receipt from the sending institution, allowing reasonable time for the credit union to process the wire ATM transactions (deposits, transfers, withdrawals) In time stamp order (Please note – there may be occasions in which systems are offline. In these cases, transactions post when systems are back online.) Merchant (pin-based) debits In time stamp order (Please note – there may be occasions in which systems are offline. In these cases, transactions post when systems are back online.) Merchant (Visa signature) debits When presented for payment by the merchant. Presentment by the merchant may be delayed several days after you conduct the transaction. ACH credits and debits We may receive ACH files several times each banking day; each file may contain both debits and credits, which are posted upon our receipt and in the order presented. Checks In ascending dollar order (low to high) and if more than one check for the same dollar amount, the checks are then posted in ascending check number order Transaction Type When Posted to Your Account Service Charges Fees for non-sufficient or unavailable funds are charged throughout the day based upon your available balance at the time the corresponding debit transaction is presented for payment. Fees for processing returned deposits or returned loan payments are posted throughout the day based upon notification of non- payment received from the corresponding financial institution.
Transaction Posting Order. Bank reserves the right to decide the order of the items Bank will pay and which items will be returned (if any). Bank’s posting order may not be the same as the order in which you conducted a transaction and could result in overdraft fees, if you do not have available funds at the time the item is paid. Generally, Bank posts the following three transaction types (to the extent applicable to your account) in the following order: • ACH credits will be posted before ACH debits to your Account on a per file basis. This means that if Bank receives an ACH file at 1 pm for a debit to your Account and at 2 pm receives an ACH file for a credit, the debit will post to your Account before the credit. • Your non-check withdrawals will be posted in date/time order, based on the date and time associated with each transaction. A date and time (if one is available) will be assigned to each transaction based on one of the following: (1) when the transaction was preauthorized (for example a debit card or ATM transaction was approved); or (2) when the transaction was processed by Bank (for example an ACH, or bill pay transaction for which there is no pre-authorization). • If check payments are supported by the Platform, your checks will be posted on a per file basis. Files are usually processed once per day, but could be processed more often, (For example: on Monday at 8 am Bank may receive and post check # 107; and at 2 pm Bank may receive Check #105, if the Checks are processed in separate files, Check # 107 would post before Check # 105).
Transaction Posting Order. On any business day, if we receive more than one item for payment from your account and we determine that your available balance is sufficient to pay some, but not all of those items, then the number of items paid and the resulting applicable charges you incur could be affected by the order in which we post those items. For example, if we post items within a category in the order of their decreasing dollar amounts (known as “high-to-low”), your account balance will be reduced by greater dollar amount items first. High-to- low posting will increase the risk that lesser dollar amount items will be returned for insufficient funds or create overdrafts in your account, and that we will assess and debit more applicable charges against your account. However, high-to-low posting also will reduce the risk that important larger dollar items, such as your mortgage, insurance premium or car payment will be returned unpaid for insufficient funds in your account. We generally process and post items to your account at the end of each business day, first by category order and then, within each category as stated in the table below. Category Item Type Posting Order First We ADD all deposits and other credits to your account high-to-low Then we SUBTRACT Second Service fees and charges assessed at the time of or on the date of occurrence, such as stop payment request fees, overdraft charges, insufficient funds charges (as applicable), and ATM balance inquiry fees high-to-low Third Outgoing wire transfers of funds high-to-low Fourth Items that you did not initiate, for example, returned deposited items and any other reversal of a credit to your account high-to-low Fifth Items that you initiated and we authorized before they were presented to us for payment or in-person withdrawals, such as ATM cash withdrawals, POS and other debit card transactions, UMB online bill payments, and Online Banking transactions, that show the date and time at which we authorized the item chronological by date and time of authorization Six Items that you initiated and we authorized before they were presented to us for payment or in-person withdrawals, such as ATM cash withdrawals, POS and other debit card transactions, UMB online bill payments, and Online Banking transactions, that do not show the date and time at which we authorized the item low-to-high Seventh All other items that we did not authorize before they were presented to us for payment, such as your checks and most ACH payments (for exa...
