Common use of Checking Accounts Clause in Contracts

Checking Accounts. 1. Your Checking Account may consist of two legally separate accounts: a transaction (checking) sub account and a savings sub account. If funds in your transaction account are not routinely needed to pay debits, we may periodically transfer funds between these two sub accounts. If your Checking Account earns interest, your interest calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account will be a non-interest-earning account. The sub accounts will be subject to our Account Agreement, our Account Disclosure, the Membership Application (or other account documentation). This arrangement and process will not affect your Available Balance in your Checking Account, the interest you may earn, NCUA insurance protection, your monthly statement, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned item, and all charges associated with negative balances or returned items by making advances under or transfers from any of your Accounts. Unless you tell us otherwise, we may link your Checking Account to any BECU Line of Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the day in the order they are received in our processing center. Therefore, if a transaction debits your Account in the morning and exceeds your Available Balance at that time, you may be charged an NSF Fee or Overdraft Fee, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, we reserve the right to process any presented checks in any order we deem necessary or appropriate. 4. We will credit items delivered to us subject to final settlement and applicable law. 5. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without notice to you, and we may deem the date on such a check to be the date that the check is presented to us. 6. We may pay postdated checks early unless an authorized party gives contrary notice complying with applicable law. 7. Except for willful misconduct and subject to applicable law, we are not liable for any action taken regarding the payment or nonpayment of an item.

Checking Accounts. 1. Your Checking Account may consist of two legally separate accounts: a transaction (checking) sub account and a savings sub account. If funds in your transaction account are not routinely needed to pay debits, we may periodically transfer funds between these two sub accounts. If your Checking Account earns interestdividends, your interest dividend calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account will be a non-interest-dividend earning account. The sub accounts will be subject to our Account AgreementAgreements, our Account Disclosure, the Membership Application (or other account documentation). This arrangement and process will not affect your Available Balance in your Checking Account, the interest you may earn, NCUA insurance protection, your monthly statement, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned item, and all charges associated with negative balances or returned items by making advances under or transfers from any BECU account that is linked to your account for NSF/Overdraft Protection (for example any Line of Credit, Savings Account, or Checking Account), and we have no obligation to, but we may, pay an item, which could cause a negative balance in your Account, all in accordance with the “10. NSF, Overdraft, and Linked Accounts” section in the Account Agreements. Unless you tell us otherwise, we may link your Checking Account to any BECU Line of Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the day in the order they are received in our processing center. Therefore, if a transaction debits your Account in the morning and exceeds your Available Balance at that time, you may be charged an NSF Fee or Overdraft Fee, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, we reserve the right to process any presented checks in any order we deem necessary or appropriate.smallest 4. We will process debit and credit ACH transactions throughout the day, in the order they are received in our processing center. Therefore, if an Account withdrawal or debit transaction is processed in the morning and it exceeds your Available Balance at that time, you may be charged NSF fees, even if a deposit or credit 5. We will credit items delivered to us subject to final settlement and applicable law. 56. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without notice to you, and we may deem the date on such a check to be the date that the check is presented to us. 67. We may pay postdated checks early unless an authorized party gives contrary notice complying with applicable law. 78. Except for willful misconduct and subject to applicable law, we are not liable for any action taken regarding the payment or nonpayment of an item.

Checking Accounts. 1. Your Checking Account may consist If you maintain a balance of two legally separate accounts: a transaction (checking) sub less than $250 in your checking account and you have not made a savings sub account. If funds withdrawal from, deposit to, or transfer involving the account in your transaction account are not routinely needed to pay debitsmore than sixty (60) days, we may periodically transfer funds between these two sub accountsclassify your checking account as inactive. If your Checking Account earns interest, your interest calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account You understand and agree that inactive checking account(s) that fall into this category will be closed by us, and we will transfer the entire checking account balance into a non-interest-earning account. The sub accounts will regular Savings Account and be subject to our Account Agreementall terms and conditions applicable to regular Savings Accounts; including minimum balances requirements to (a) avoid monthly service fees, our Account Disclosure, the Membership Application and to (or other account documentationb) obtain disclosed Annual Percentage Yield (APY). This arrangement and process will not affect your Available Balance Please refer to the regular Savings Accounts section in your Checking Accountthis document, the interest you may earn, NCUA insurance protection, your monthly statement, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned itemLoan & Deposit Rate Summary, and all charges associated Schedule of Fees & Services for details. This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with negative balances or returned items by making advances under or transfers from us. Share draft accounts are the most common transaction accounts. Feel free to ask us whether any of your Accountsother accounts might also be under this policy. Unless Our policy is to make funds from your cash and check deposits available to you tell us otherwise, we may link your Checking Account to any BECU Line of Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the next business day after the day in we receive your deposit. Electronic direct deposits will be available on the order they day we receive the deposit. Once the funds are received in our processing center. Therefore, if a transaction debits your Account in the morning and exceeds your Available Balance at that timeavailable, you may be charged an NSF Fee or Overdraft Feecan withdraw them in cash, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and we will use the funds to pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, have written. Please remember that even after we reserve the right to process any presented checks in any order we deem necessary or appropriate. 4. We will credit items delivered to us subject to final settlement and applicable law. 5. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without notice made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before closing on a business day that we may deem the date on such a check are open, we will consider that day to be the date that the check is presented to us. 6day of your deposit. We may pay postdated checks early unless an authorized party gives contrary notice complying with applicable law. 7. Except for willful misconduct and subject to applicable lawHowever, if you make a deposit after closing or on a day, we are not liable open, we will consider that the deposit was made on the next business day we are open. If you make a deposit at an ATM before 3:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit at an ATM after 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. We believe a check you deposit will not be paid. You deposit checks totaling more than $5,525 on any one day. You redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly in the last six months. There is an emergency, such as failure of computer or communications equipment. We will notify you if we delay your ability to withdraw funds for any action taken regarding of these reasons, and we will tell you when the payment or nonpayment funds will be available. They will generally be available no later than the seventh business day after the day of an itemyour deposit.

Checking Accounts. 1. Your Checking Account may consist of two legally separate accounts: a transaction (checking) sub account and a savings sub account. If funds in your transaction account are not routinely needed to pay debits, we may periodically transfer funds between these two sub accounts. If your Checking Account earns interest, your interest calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account will be a non-interest-earning account. The sub accounts will be subject to our Account Agreement, our Account Disclosure, the Membership Application (or other account documentation). This arrangement and process will not affect your Available Balance in your Checking Account, the interest you may earn, NCUA insurance protection, your monthly statement, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned item, and all charges associated with negative balances or returned items by making advances under or transfers from any of your Accounts. Unless you tell us otherwise, we may link your Checking Account to any BECU Line of Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the day in the order they are received in our processing center. Therefore, if a transaction debits your Account in the morning and exceeds your Available Balance at that time, you may be charged an NSF Fee or Overdraft Fee, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, we reserve the right to process any presented checks in any order we deem necessary or appropriate. 4. We will credit items delivered to us subject to final settlement and applicable law. 5. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without notice to you, and we may deem the date on such a check to be the date that the check is presented to us. 6. We may pay postdated checks early unless an authorized party gives contrary notice complying with applicable law. 7. Except for willful misconduct and subject to applicable law, we are not liable for any action taken regarding the payment or nonpayment of an item.

Checking Accounts. 1a. The Credit Union offers a Business Checking account for your Business Services Account. Your Business Checking Account may consist Accounts are eligible to earn dividends. The amount of two legally separate accounts: a transaction (checking) sub account and a savings sub account. If the dividend will be determined in accordance with rules specified in the section of this Agreement titled "Dividends." b. Deposits you make are not considered funds in your transaction account until they are available as described in the "Funds Availability" section of this Agreement. When drafts, transactions or debits you have written, initiated or authorized are presented to the Credit Union for payment, the Credit Union may pay them in any order. You are authorized to write checks, initiate debit card transactions or authorize debits, only when there are enough funds in your applicable Checking Account or a combination of your checking account and overdraw protection options to cover them. c. You may not routinely needed write post-dated checks on your account. All checks presented for payment are payable on demand. The Credit Union will not be liable to you for paying a post-dated check prior to its maturity date. You agree to tell us immediately if any checks are missing. If you write a condition on a check that restricts its payment (for example, “Void After 60 Days”), the Credit Union will not be required to note that restriction or honor it. d. Once a check is six months old, the Credit Union may refuse to pay debits, we may periodically transfer funds between these two sub accountsit. If there is no stop payment order in effect when the check is received for payment, however, the Credit Union may elect to pay it. If the Credit Union does not pay the check, you are responsible for the amount of the payment. e. If you do not want the Credit Union to pay a check you have written, you can order the Credit Union to stop payment on it by notifying the Credit Union by mail or telephone. The stop payment order takes effect when it is processed in your account and is effective for twelve months. The Credit Union will send you a confirmation notice for all telephone stop payment orders. You may send written stop payment orders to any of our offices. Your stop payment order must be timely and must accurately describe the check by account number, amount and check number. You may stop payment on a check drawn on your account only if the Credit Union has not accepted, certified, made final payment on, or otherwise become accountable for the item, except to the extent otherwise required by law. The Credit Union must be given reasonable opportunity to act on any stop payment order before it can be considered effective. The Credit Union may take a reasonable amount of time (at least twenty- four hours) to process a stop payment order. This means that if a check is paid after a stop payment order has been given, but before the Credit Union has had a reasonable amount of time to act on it, the Credit Union will not be liable for any resulting loss to you, unless it has failed to act in good faith and with ordinary care. The Credit Union is to act in good faith and with ordinary care. The Credit Union is not obligated to notify you if it pays a check contrary to your stop payment order. If the Credit Union fails to honor a proper and timely stop payment order, the Credit Union will not be liable for more than your actual loss, which may be less than the full amount of the check. You must establish both the fact and amount of your loss before seeking reimbursement from the Credit Union. If the Credit Union suffers any loss or expense as a result of honoring your stop payment order, you agree to reimburse the Credit Union the amount of its loss or expense. There will be a service charge for every stop payment order. The amount of the fee is listed on the Fee Schedule. f. You authorize the Credit Union to pay any pre-authorized checks generated by a payee that you have given your Checking Account earns interest, your interest calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account will be information to. g. If you maintain a non-interest-earning account. The sub accounts will be subject to our Account Agreement, our Account Disclosure, the Membership Application (or other account documentation). This arrangement and process will not affect your Available Balance negative balance in your Checking Account, the interest you may earn, NCUA insurance protection, your monthly statementAccount for 40 or more consecutive days, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned item, and all charges associated with negative balances or returned items by making advances under or transfers from any of your Accounts. Unless if you tell us otherwise, we may link otherwise abuse your Checking Account to any BECU Line of or your privileges under the Enhanced Overdraw Protection service, the Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the day in the order they are received in our processing center. Therefore, if a transaction debits Union may close your Checking Account in the morning and exceeds your Available Balance at that time, you may be charged an NSF Fee or Overdraft Fee, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, we reserve the right to process any presented checks in any order we deem necessary or appropriate. 4. We will credit items delivered to us subject to final settlement and applicable law. 5. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without additional notice to you, and we may deem the date on such a check to be the date that the check is presented to us. 6. We may pay postdated h. Deposits that include fifteen (15) or more checks early unless an authorized party gives contrary notice complying with applicable law. 7. Except for willful misconduct are considered "Bulk Deposits" and subject to applicable law, we the Bulk Deposits funds availability schedule. Bulk Deposit amounts are not liable for any action taken regarding verified by the payment Credit Union at the time of deposit. All verification performed by the Credit Union or nonpayment of an itemits agent or representative shall be considered final and conclusive.

Checking Accounts. 1a. The Credit Union offers a Business Checking account for your Business Services Account. Your Business Checking Account may consist Accounts are eligible to earn dividends. The amount of two legally separate accounts: a transaction (checking) sub account and a savings sub account. If the dividend will be determined in accordance with rules specified in the section of this Agreement titled "Dividends." b. Deposits you make are not considered funds in your transaction account until they are available as described in the "Funds Availability" section of this Agreement. When drafts, transactions or debits you have written, initiated or authorized are presented to the Credit Union for payment, the Credit Union may pay them in any order. You are authorized to write checks, initiate check card transactions or authorize debits, only when there are enough funds in your applicable Checking Account or a combination of your checking account and overdraw protection options to cover them. c. You may not routinely needed write post-dated checks on your account. All checks presented for payment are payable on demand. The Credit Union will not be liable to you for paying a post-dated check prior to its maturity date. You agree to tell us immediately if any checks are missing. If you write a condition on a check that restricts its payment (for example, “Void After 60 Days”), the Credit Union will not be required to note that restriction or honor it. d. Once a check is six months old, the Credit Union may refuse to pay debits, we may periodically transfer funds between these two sub accountsit. If there is no stop payment order in effect when the check is received for payment, however, the Credit Union may elect to pay it. If the Credit Union does not pay the check, you are responsible for the amount of the payment. e. If you do not want the Credit Union to pay a check you have written, you can order the Credit Union to stop payment on it by notifying the Credit Union by mail or telephone. The stop payment order takes effect when it is processed in your account and is effective for six months. The Credit Union will send you a confirmation notice for all telephone stop payment orders. You may send written stop payment orders to any of our offices. Your stop payment order must be timely and must accurately describe the check by account number, amount and check number. You may stop payment on a check drawn on your account only if the Credit Union has not accepted, certified, made final payment on, or otherwise become accountable for the item, except to the extent otherwise required by law. The Credit Union must be given reasonable opportunity to act on any stop payment order before it can be considered effective. The Credit Union may take a reasonable amount of time (at least twenty- four hours) to process a stop payment order. This means that if a check is paid after a stop payment order has been given, but before the Credit Union has had a reasonable amount of time to act on it, the Credit Union will not be liable for any resulting loss to you, unless it has failed to act in good faith and with ordinary care. The Credit Union is to act in good faith and with ordinary care. The Credit Union is not obligated to notify you if it pays a check contrary to your stop payment order. If the Credit Union fails to honor a proper and timely stop payment order, the Credit Union will not be liable for more than your actual loss, which may be less than the full amount of the check. You must establish both the fact and amount of your loss before seeking reimbursement from the Credit Union. If the Credit Union suffers any loss or expense as a result of honoring your stop payment order, you agree to reimburse the Credit Union the amount of its loss or expense. There will be a service charge for every stop payment order. The amount of the fee is listed on the Fee Schedule. f. You authorize the Credit Union to pay any pre-authorized checks generated by a payee that you have given your Checking Account earns interest, your interest calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account will be information to. g. If you maintain a non-interest-earning account. The sub accounts will be subject to our Account Agreement, our Account Disclosure, the Membership Application (or other account documentation). This arrangement and process will not affect your Available Balance negative balance in your Checking Account, the interest you may earn, NCUA insurance protection, your monthly statementAccount for 40 or more consecutive days, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned item, and all charges associated with negative balances or returned items by making advances under or transfers from any of your Accounts. Unless if you tell us otherwise, we may link otherwise abuse your Checking Account to any BECU Line of or your privileges under the Enhanced Overdraw Protection service, the Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the day in the order they are received in our processing center. Therefore, if a transaction debits Union may close your Checking Account in the morning and exceeds your Available Balance at that time, you may be charged an NSF Fee or Overdraft Fee, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, we reserve the right to process any presented checks in any order we deem necessary or appropriate. 4. We will credit items delivered to us subject to final settlement and applicable law. 5. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without additional notice to you, and we may deem the date on such a check to be the date that the check is presented to us. 6. We may pay postdated h. Deposits that include fifteen (15) or more checks early unless an authorized party gives contrary notice complying with applicable law. 7. Except for willful misconduct are considered "Bulk Deposits" and subject to applicable law, we the Bulk Deposits funds availability schedule. Bulk Deposit amounts are not liable for any action taken regarding verified by the payment Credit Union at the time of deposit. All verification performed by the Credit Union or nonpayment of an itemits agent or representative shall be considered final and conclusive.