Common use of Failed or Returned Transactions Clause in Contracts

Failed or Returned Transactions. In using the Service, you are requesting that we make payments for you from your Payment Account. If we are unable to complete the transaction for any reason associated with your Payment Account (for example, there are insufficient funds in your Payment Account to cover the transaction), the transaction will not be completed. In some instances, you will receive a return notice from the Service. In such case, you agree that: (a) You will reimburse us immediately upon demand the transaction amount that has been returned to us; (b) For any amount not reimbursed to us within fifteen (15) days of the initial notification, a late charge equal to 1.5% monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed; (c) You will reimburse us for any fees imposed by your financial institution as a result of the return; (d) You will reimburse us for any fees it incurs in attempting to collect the amount of the return from you; and, (e) We are authorized to report the facts concerning the return to any credit reporting agency.

Failed or Returned Transactions. ‌ a. In using the ServiceCommercial Online Banking, you are requesting that we make payments for you from your Payment eligible Business Account. If we are unable to complete the transaction for any reason associated with your Payment Business Account (for example, there are insufficient funds in your Payment Business Account to cover the transaction), the transaction will not be completed. In some instances, you will receive a return notice from the Serviceus. In such case, you agree that: (ai) You will reimburse us immediately upon demand the transaction amount that has been returned to usreturned; (bii) For any amount not reimbursed to us within fifteen (15) days of the initial notification, a late charge equal to 1.5% monthly interest per month of the transaction amount or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed; (ciii) You will reimburse us for the standard fee for returned items; (iv) You will reimburse us for any fees imposed by your financial institution as a result of the return; (d) You will reimburse us for any & costs, including all reasonable attorney’s fees and legal costs, that it incurs in attempting to collect the amount of the return from you; and, (ev) We are authorized to report the facts concerning the return to any credit reporting agency.

Failed or Returned Transactions. In using the Service, you are requesting that we make payments for you from your Payment Account. If we are unable to complete the a transaction for any reason associated with your Payment Account (for example, there are insufficient funds in your Payment Account to cover the transaction), the transaction will not be completed. In some instances, you will receive a return notice from the Service. In such case, you agree that: (a) You will reimburse us immediately upon demand the transaction amount that has been returned to us; (b) For any amount not reimbursed to us within fifteen (15) days of the initial notification, a late charge equal to 1.5% monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed; (c) You will reimburse us for any fees imposed by your financial institution as a result of the return; (d) You will reimburse us for any fees it incurs in attempting to collect the amount of the return from you; and, (e) We are authorized to report the facts concerning the return to any credit reporting agency.