Common use of Foreign Checks Clause in Contracts

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. We are not required to accept for deposit checks that are drawn on drawnon a non-U.S. bank or payable in a foreign currency. We may accept those checks on a collection basis without your specific instruction i nstruction to do so. We can reverse any amount we have added to your account and send the sendthe 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 youreceive 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 checkis returned later for any reason, we will charge your account at the applicable exchange rate in effect ineffect at the time of the return, which may whichmay be more or less than the exchange rate originally used for the deposit.