Foreign Checks Clause Samples
The FOREIGN CHECKS clause governs the handling and processing of checks drawn on banks located outside the country where the agreement is executed. Typically, this clause outlines the procedures for accepting, depositing, and clearing such checks, including any additional fees, longer processing times, or currency conversion requirements that may apply. Its core function is to clarify the responsibilities and expectations for both parties when dealing with foreign checks, thereby minimizing misunderstandings and managing the risks associated with international banking transactions.
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Foreign Checks. Under no circumstances may any foreign checks (meaning a check drawn on or issued by a bank or other financial institution which is not domiciled within the United States or a territory or possession of the United States which clears through the Federal Reserve System) be transmitted through the RDC Service.
Foreign Checks. Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which it is drawn.
Foreign Checks. The Credit Union does not process checks drawn on financial institutions located outside the U.S. (foreign checks). Foreign checks are exempt from the policies outlined in this disclosure. Only foreign checks payable through a U.S. bank with routing numbers and payable in U.S. dollars will be available subject to the Funds Availability Policy.
Foreign Checks. Checks drawn on a foreign bank or in a currency other than United States dollars (“foreign checks”) may be automatically returned. In the event Bank agrees to deposit foreign checks, Bank or Processor may process the foreign checks through collection systems and at exchange rates chosen by Bank or Processor, and Bank may impose fees and charges for the service, which fees and charges Client agrees to pay. The currency conversion and collection process may take a long time (for example, eight weeks or more), depending on the foreign bank. Adjustments for returned foreign items or otherwise may result in a different currency exchange rate, and Client could lose or gain due to changes in the exchange rates. Bank’s determination to take a foreign check for deposit on any occasion will not obligate Bank to do so in the future, unless expressly agreed by Bank otherwise.
Foreign Checks. Funds from deposits of checks drawn on foreign financial institutions will generally be available no later than the fifth business day after the day of deposit or the ninth business day for new accounts.
Foreign Checks. We only accept checks drawn on foreign financial institutions if they are payable in U.S. Dollars. This is your Electronic Services Agreement and Disclosure. It covers your and our rights and responsibilities concerning the electronic fund transfers (EFT) services offered to you by the Credit Union including any special instructions regarding the use of our debit or ATM card, our HSA debit card, our online banking service, our mobile banking services, and our audio banking service. Each with their corresponding personal identification Number (PIN) or access code and any checks you authorize to be processed electronically.
Foreign Checks. We are not required to accept for deposit checks that are drawn on a non-U.S. bank or payable in a foreign currency. We may accept those checks on a collection basis without your specific instruction to do so. We can reverse any amount we have added to your account and send the check on a collection basis even after we have taken physical possession of the check. Our Funds Availability Policy does not apply to any foreign check, whether we accept it for deposit or on a collection basis. The actual amount you receive for checks payable in a foreign currency will be determined at the Bank’s exchange rate for such items that is in effect when we are paid for the check. If a check is returned later for any reason, we will charge your account at the applicable exchange rate in effect at the time of the return, which may be more or less than the exchange rate originally used for the deposit.
Foreign Checks. Deposits of checks drawn on an office of a foreign bank located outside of The United States of America ("Foreign Checks") are not covered by this disclosure. Contact a Member Services Representative for details concerning Our policy for availability of Foreign Check deposits. THESE ARE THE TERMS AND CONDITIONS WHENEVER YOU REQUEST A WIRE TRANSFER OF FUNDS FROM YOUR ACCOUNT(S) WITH US BASED UPON YOUR ORAL OR WRITTEN REQUEST. WE WILL PROVIDE WIRE TRANSFER SERVICES AS A MEANS TO INITIATE DOMESTIC AND INTERNATIONAL TRANSFERS FOR YOU, SUBJECT TO THE TERMS OF THIS AGREEMENT, WHICH YOU AGREED TO BY SIGNING YOUR APPLICATION FOR MEMBERSHIP WITH US AT THE TIME THAT YOUR ACCOUNT WAS ESTABLISHED.
Foreign Checks. You agree that checks drawn on a foreign bank or in a currency other than United States dollars may be processed by the Bank or Processor through collection systems and at exchange rates chosen by the Bank or Processor, and the Bank may impose fees and charges for the service. You acknowledge that the currency conversion and collection process may take a long time depending on the foreign bank and adjustment for returned foreign items or otherwise may result in different currency exchange rate, and you could lose or gain due to the changes in the exchange rates.
Foreign Checks. Checks drawn on financial institutions outside the United States may be handled on a collection basis. Generally, availability of funds from foreign check deposits will be delayed until we have collected the funds from the institutions on which they are drawn.