Examples of Returned Item in a sentence
You understand that by opting out of this service, we may refuse to pay any check or item that is presented against an insufficient balance on your account and you will be responsible for any Returned Item fees.
If we do not pay the overdraft, there is a Returned Item fee for each check or item we return as set forth on the Rate and Fee Schedule.
Further, you will be charged a Paid Item Fee if we honor or pay the item or transaction when you have a non-sufficient available balance even if you were previously charged Returned Item Fees when the item or transaction was previously returned, rejected, or declined.
If a payment received by Servicer is returned or rejected for any reason, all parties are liable jointly and separately for immediately reimbursing Servicer for all funds paid out and all costs incurred and fees assessed in the recovery of these funds including but not limited to Servicer’s Returned Item Fee plus 1.50% of the disbursement made to Payee per month from the date of payment to Payee until recovered.
Returned Item charge: A returned item fee equal to your minimum payment due, but no more than $25.00, will be charged to your Visa account for each dishonored check or other transfer processed by the Credit Union as payment on your Visa account.