Account Reconciliation Clause Samples

Account Reconciliation. Customer agrees to notify Bank promptly of any discrepancy between the Customer’s records and the information shown on any periodic statement. If Customer fails to notify Bank within sixty (60) calendar days of receipt of a periodic statement containing such information; Customer agrees that Bank shall not be liable for any other losses resulting from Customer’s failure to give such notice or any loss of interest or any interest equivalent with respect to any Entry shown on such periodic statement. If Customer fails to notify Bank within thirty (30) calendar days of receipt of such periodic statement, Customer shall be precluded from asserting any discrepancy against Bank. Customer shall be bound by and comply with the ACH Rules as in effect from time to time, including without limitation the provision thereof making payment of an Entry by the RDFI to the Receiver provisional until receipt by the RDFI of final settlement for such Entry; and Customer acknowledges that it has received notice of that ACH Rule and or the fact that, if such settlement is not received, the RDFI shall be entitled to a refund from the Receiver of the amount credited and Customer shall not be deemed to have paid the Receiver the amount of the Entry. For Entries received by Bank to be credit to Customer’s account(s), Bank shall grant Customer's Account provisional credit, said amounts being credited to the account(s) subject to final payment by the ODFI and Originator. For the purpose of determining availability of funds, Bank may hold funds for the period of time permitted by Reg CC. For the purposes of determining the time for which funds may be held by Bank under Reg CC, the place of deposit shall be Greenville, South Carolina.

Account Reconciliation. ‌ InBusiness offers additional reporting features for partial, full and deposit reconciliation. The cutoff times for the delivery of issued check information align with those referenced above for Check Positive Pay. The Account Reconciliation Summary is used to assist in balancing online account balances with the Customer’s bank statement. The report displays an activity summary of outstanding checks and a check register balances as of a given reconciliation date. ACH Information Reporting‌ InBusiness offers an ACH Information Reporting module that contains ACH transactions, returns, notifications of change (NOCs) and EDI detail from ACH payments. SWEEP SERVICES‌ Automated Account Sweep‌

Account Reconciliation. Inbound and outbound External Transfers will be reflected on the periodic statement issued to you by us. You agree to notify us promptly of any discrepancy between your records and the information reflected in your periodic statements. If you fail to notify us of any such discrepancy within the time period set forth in the Terms and Conditions of Your Account, you will be precluded from asserting the discrepancy against the Bank.

Account Reconciliation a. You must examine the periodic statement for each Deposit Account with “reasonable promptness.” You agree that the time to examine the statement and report to us will depend on the circumstances, but that such time will not, in any circumstance, exceed a total of fifteen (15) calendar days from the date that the statement is first made available toyou. b. If you discover (or reasonably should have discovered) any unauthorized payments or alterations, you must promptly notify us of the relevant facts. You must furnish the following information to us: (i) your name and Account number; (ii) a description of the error or transfer, and a complete explanation of the error, or request for more information; (iii) the dollar amount of the suspected error; and (iv) any other information required by us. If you contact us by telephone, we may require that you send the complaint or question in the form of a paper writing by postal mail or fax within ten (10) Business Days. c. If you fail to perform any of these duties, you will have to either share the loss with us, or bear the loss entirely (depending on whether we exercised ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items, transfers, or payments on the statement but other items forged or altered or unauthorized transfers or payments made by the same wrongdoer. If you do not report to us as provided in subsection (a) or (b) above, you agree that you will be liable for the full amount of the item, transfer, or payment and we will not be responsible for the payment of any interest to you. You further agree that if you fail to report any unauthorized signature, alteration, forgery, transfer or payment or any other error in any Account within thirty (30) days of when we make the statement available, you cannot assert a claim against us on any item, transfer, payment or other error in that statement, and the loss will be entirely yours. This 30-day limitation is without regard to whether we exercised ordinary care. In that event, you will be liable for the full amount of the item, transfer, or payment and we will not be responsible for the payment of any interest to you. This limitation is in addition to those contained elsewhere in this Agreement, any Service Addendum, and under applicable law.

Account Reconciliation. The Deposit Account statements or other notices provided to you by us will notify you of (a) the execution of bank transfers or bill payments and the debits to the Deposit Account made with respect to such bank transfers and bill payments, and (b) amounts debited by the Bank from the Billing Account or any other account for payment of the services or other charges pursuant to this Agreement. You agree that we will not be required to provide any other notice to you of the execution of bank transfers, bill payments, or debits. You agree to promptly examine each statement for a Deposit Account and to promptly report any discrepancies between your records and the Deposit Account statements or any other notices mailed by the Bank to you, as provided in Section 17.

Account Reconciliation. Fund Transfer Entries credited/debited to accounts of Company as identified in the Agreement will be reflected on Company’s periodic statement issued by Bank pursuant to the agreement between Bank and Company. Company agrees to notify Bank promptly of any discrepancy between Company’s records and the information shown on any such periodic statement. If Company fails to notify Bank of any such discrepancy within sixty (60) days of receipt of a periodic statement containing such information, Company agrees that Bank shall not be liable for any other losses resulting from Company’s failure to give such notice or any loss of interest with respect to an Entry shown on such periodic statement. If Company fails to notify bank of any such discrepancy within sixty (60) days of receipt of such periodic statement, Company shall waive all rights to assert such discrepancy against Bank.

Account Reconciliation. You will verify and reconcile any out-of-balance condition, and promptly notify us of any errors (exclusive of weekends and applicable holidays) within 60 days after receipt of your statement from us. If notified within such period, we shall correct and resubmit all erroneous files, reports, and other data at our then standard charges, or at no charge, if the erroneous report or other data directly resulted from our error. We agree to transmit all the financial data under our control required to utilize Mobile Deposit and to act on appropriate instructions received from you in connection with Mobile Deposit. We shall exercise due care in seeking both to preserve the confidentiality of your number, password, test key, or other code or identifier and to prevent the use of Mobile Deposit by unauthorized persons (and in this connection it is understood and agreed that implementation by us of our normal procedures for maintaining the confidentiality of information relating to our members, shall constitute due care) but shall not otherwise be under any liability of any kind for any loss incurred or damage suffered by you by reason of any misuse or unauthorized use of Mobile Deposit or disclosure of any confidential information of yours. When we review and process your electronic check, we may reject any electronic image that we, in our sole discretion, determine to be ineligible for Mobile Deposit including, without limitation, items drawn on U.S. Banks in foreign currency, electronic images that are illegible, electronic images of items previously processed or converted to substitute checks, and electronic images with unreadable MICR information. We will notify you of any Exception Items. You agree that you shall only deposit Exception Items to your accounts by depositing the original item on which the Exception Item is based. You acknowledge and agree that even if we do not initially identify an electronic image as an Exception Item, the substitute check created by us there from may nevertheless be returned to us because, among other reasons, the electronic image is deemed illegible by a paying bank. Our failure to identify an Exception Item shall not preclude or limit the obligation of you to us.

Account Reconciliation. The Deposit Account statements or other notices provided to you by us will notify you of (a) the execution of bank transfers or bill payments and the debits to the Deposit Account made with respect to such bank transfers and bill payments, and

Account Reconciliation. Entries transmitted by ODFI or debited to a Receiver account maintained with ODFI will be reflected on the periodic statements issued with respect to the account. You agree to notify ODFI in writing promptly after becoming aware of any discrepancy between your records and the information shown on any such periodic statement. If you fails to notify ODFI of any such discrepancy promptly, ODFI may not be liable for losses resulting from your failure to give such notice or any loss of interest with respect to an Entry shown on such periodic statement. For additional details on disputing errors, please see the Cardholder Agreement.