Debits to Your Account Sample Clauses
The "Debits to Your Account" clause defines the circumstances and methods by which funds may be withdrawn or deducted from a customer's account. It typically outlines the types of transactions that can result in debits, such as checks, electronic transfers, or authorized payments, and may specify the order in which debits are processed. This clause ensures that account holders understand how and when their account balances may decrease, providing transparency and helping to prevent disputes over unauthorized or unexpected withdrawals.
Debits to Your Account. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner, you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest (at prevailing margin rates) that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we or The Clearing Firm incur in collecting the debt. When multiple debit items become payable at the same time, these items will be paid in the following order: • Securities transactions (including any margin calls) and any account fees. • Debit card transactions. • Checks written against your account. When settling debits against your account, it is The Clearing Firm’s policy to turn to the following sources (collectively called your “available balance”), in this order: • Any cash available in your account without incurring margin interest charges (including core account balances). • If you have a margin account, any margin credit available. If necessary, we may turn to the following additional sources to settle a debit involving a securities transaction: • Any shares in another money market fund, including any in another non-retirement account with the same registration (which you authorize us to sell for this purpose when you sign the application). • Any securities in this or any other account furnished by us in which you have an interest. Note that in some cases, delays in data transmission between financial institutions could mean that a credit actually received on a given business day may not be reflected in your available balance until the following business day. Interest on any margin debt will accrue beginning the day credit is extended and is subject to the terms of the Margin Agreement. Money market fund shares used to pay debits are redeemed at the Net Asset Value (NAV) in effect at the time (typically $1.00). For disclosures concerning money market funds, see “Money Market Fund Investments” later in this agreement. You will maintain enough assets in your account to satisfy all obligations as they become due, and you authorize us or the Clearing Firm to take whatever steps we or the Clearing Firm may consider necessary to resolve unpaid debts or other obligations If your available balance is not sufficient to satisfy any debt or obligation, we and the...
Debits to Your Account. All debit items (including checks, securities purchases, and electronic transfers of money) are paid daily to the extent that sufficient funds are available. Note that debits to resolve securities transactions or the payment of account fees will be given priority over other debits, such as checks. As an account owner, you are responsible for satisfying all debits on your account, including any debit balance outstanding after all assets have been removed from an account, and any costs (such as legal fees) that we incur in collecting the debit. If a check issued to you from your account remains uncashed and outstanding for at least six months, you authorize and instruct Fidelity to cancel the check and return the underlying pro- ceeds to you by depositing the proceeds into your account’s core position. To help ensure the proper discharge of debits, it is our policy to turn to the following sources, in this order, when settling debits against your account: • any money that is added to your account (such as checks, interest, or transaction proceeds) on the same day the debit is applied • any money in your core account • any shares in a Fidelity money market fund held in this or another brokerage retirement account that has the same registration (which you authorize us to sell for this purpose when you sign the application) • any other securities in this or another brokerage retirement account Money market fund shares used to pay debits are redeemed at the share price in effect at the time (typically $1.00). For disclosures concern- ing money market funds, see “Money Market Fund Investments” in the “Disclosures” section of this agreement. Note that distributions from a Fidelity retirement plan account are subject to certain plan and IRS restrictions.
Debits to Your Account. Account to TIS’s reasonable satisfaction. TIS or our Clearing Firm arising out of such actions.
Debits to Your Account. All debits are accumulated daily to your account and are paid to the extent that sufficient funds are available. As an account owner, you are responsible for satisfying all debits on your account, including any debt still owed after all assets have been removed from an account, any interest (at prevailing margin rates) that has accrued on that debt, any late charges arising from your failure to pay for securities transactions in full by the settlement date, and any costs (such as legal fees) that we or the Clearing Firm incur in collecting the debt. When multiple debit items become payable at the same time, these items will be paid in the following order: • Securities transactions (including any margin calls) and any account fees. • your Debit card transactions. • Checks written against account. When settling debits against your account, it is the Clearing Firm’s policy to turn to the following sources (collectively called your “available balance”), in this order: • Any cash available in your account without incurring margin interest charges (including core account balances). • If you have a margin account, any margin credit available. If necessary, we may turn to the following additional sources to settle a debit involving a securities transaction: • Any shares in another money market fund, including any in another non-retirement account with the same registration (which you authorize us to sell for this purpose when you sign the application). • Any securities in this or any other account furnished by us in which you have an interest.