Direct Deposits definition

Direct Deposits. If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. TRANSACTIONS BY MAIL: You may deposit checks by mail. You should endorse the check being sent through the mail with the words "For Deposit Only" and should include your correct account number underneath to ensure the check is credited to the correct account. You should use the pre-encoded checking deposit slips we provide. If you do not use your deposit slip or provide us with instructions indicating how or where the check should be credited, we may apply it to any account or any loan balance you have with us or we may return the check to you. Receipts for such transactions will be mailed to you only if a self-addressed stamped envelope is provided. Following your deposit, examine your statement carefully or call us to ensure that we received the item. Do not send cash through the mail for deposit. Member FDIC, Equal Housing Lender INTEREST: If any of your accounts is an interest-bearing account, the rates at which interest is paid on the principal balance is shown in the rate information for your deposit account type on our website, xxx.xxxxxxx.xxx. The interest rate for any account is determined at our discretion and may change at any time. Interest will be compounded monthly. Interest will be credited monthly on the last day of the month. If the account is closed prior to the last day of the month, interest accrued but not credited will be forfeited. Interest is calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. Interest will begin to accrue no later than the business day we receive provisional credit for the deposit of noncash items (for example, checks) into your account.
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Direct Deposits are Automated Clearing House (“ACH”) funds transfers made using your Card Account and routing number.
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Direct Deposits shall have the meaning specified in Section 2.8.12.
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Examples of Direct Deposits in a sentence

  • DIRECT DEPOSITS: If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law.

  • EACH PARTY ACKNOWLEDGES THAT THEY HAVE READ, UNDERSTAND AND AGREE TO THE TERMS OF THIS “FUTURE RECEIPTS SALE AGREEMENT” AND UPON EXECUTION OF THE AGREEMENT SHALL BE OBLIGATED TO ALL OF THE FOREGOING TERMS AND CONDITIONS—INCLUDING THE JURY TRIAL WAIVER, PUNITIVE DAMAGES WAIVER AND CLASS ACTION WAIVER—AND THE AUTHORIZATION AGREEMENT FOR DIRECT DEPOSITS (ACH CREDITS) AND DIRECT PAYMENTS (ACH DEBITS) AND ANY OTHER EXHIBITS, ADDENDA OR SCHEDULES THAT MAY BE ADDED OR ATTACHED HERETO.


More Definitions of Direct Deposits

Direct Deposits. We may offer direct deposit options allowing you to pre-authorize deposits (i.e., payroll checks, Social Security or retirement checks, or other government checks) or transfers from your Accounts with us. You must authorize any such deposits or transfers by a separate authorization form. If you wish to cancel the direct deposit or pre- authorized transfer option, you must notify the Credit Union at least 30 days prior to the next scheduled date for any direct deposit or pre-authorized transfer. If you fail to cancel any direct deposit authorization upon a filing of bankruptcy, you agree that we may make and apply direct deposits in accordance with your authorization on file with us. If, in connection with a direct deposit plan, we deposit any amount in your Account by mistake, you authorize us to deduct the amount from your Account without prior notice and at any time.
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Direct Deposits. We may offer preauthorized deposits (e.g. payroll, Social Security, etc.). You must authorize payroll deductions by signing a Payroll Deduction form. Upon a bankruptcy filing, we will cancel all payroll deposits coming in to your account.
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Direct Deposits means transactions initiated by an institution to process a deposit into a UBS Financial Services account.
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Direct Deposits means a file of payments such as payroll payments to employees which the Customer has transmitted to Telpay for processing to the designated bank accounts;
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Related to Direct Deposits

  • Direct Deposit Disbursement Requests for the Closing Disbursement(s) to be deposited into an account at Xxxxx Fargo Bank, N.A. must specify the amount and applicable account. Each account included in any such Disbursement Request must be listed below. Name on Deposit Account: Xxxxx Fargo Bank, N.A. Deposit Account Number: Further Credit Information/Instructions: Disbursements of Loan Proceeds Subsequent to Loan Closing/Origination Subsequent Disbursement Authorizers: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “Subsequent Disbursement Authorizer”) to disburse Loan proceeds after the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “Subsequent Disbursement”): Individual’s Name Title 1.

  • Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;

  • Deposits means all deposits (as defined in 12 U.S.C. § 1813(l)) that are held by any Seller or any of its Affiliates in connection with the Business, in each case, in the name or for the benefit of any clients or customers under the Appointments solely in their capacity as clients or customers of the Business and including any such deposits received by any Seller from and after the date hereof through the close of business on the Closing Date.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Security Deposits shall have the meaning set forth in Section 5.1.17(e) hereof.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.