NSF Transactions Sample Clauses
The "NSF Transactions" clause addresses how non-sufficient funds (NSF) transactions are handled within an agreement. It typically outlines the procedures and consequences when a payment, such as a check or electronic transfer, is returned or rejected due to insufficient funds in the payer's account. For example, the clause may specify that the payer is responsible for any fees incurred and must promptly provide an alternative payment method. The core function of this clause is to allocate responsibility for failed payments and to ensure that the payee is protected from losses or administrative burdens resulting from NSF transactions.
NSF Transactions. We are not obligated to pay any itempresented for payment if your account does not contain sufficient available funds. If we do not authorize and pay an overdraft, then we decline or return the transaction or item unpaid and charge a related NSF Fee as stated in our Fee Schedule. You are responsible for ensuring that your account includes sufficient available funds to pay the transactions you initiate or authorize when they are processed for payment from your account, and you also acknowledge that the timing of when merchants or payees submit transactions to us for payment may vary. If your account does not have sufficient available funds when a transaction or item is presented to us for payment and, as a result, returned unpaid, the merchant or payee of your transaction or item may choose to resubmit the same transaction, and may do so multiple times; this may also occur when you initiate transfers and payments through your Credit Union Digital Banking services and your account lacks sufficient available funds at the time the transaction is scheduled tooccur, as we may decline the transaction, charge a NSF Fee, and then resubmit the same transaction at a later time in an attempt to process your requested transaction. In the event a transaction or item is resubmitted for payment at a time when your account lacks sufficient available funds to pay it and we decline it, we will charge a related NSF Fee for each such resubmitted itemeach time that same transaction is returned unpaid or a Courtesy Pay Fee if a resubmitted item is paid when your account lacks sufficient available funds to pay it.
NSF Transactions. We are not obligated to pay any item presented for payment if your account does not contain sufficient available funds. If we do not authorize and do not pay an overdraft, then we decline or return the transaction or item unpaid and charge a related NSF Fee as stated in our Schedule of Fees and Charges. You are responsible for ensuring that your account includes sufficient available funds to pay the transactions you initiate or authorize when they are processed for payment from your account, and you also acknowledge that the timing of when merchants or payees submit transactions to us for payment may vary. If your account does not have sufficient available funds when a transaction or item is presented to us for payment and, as a result, returned unpaid, the merchant or payee of your transaction or item may choose to resubmit the same transaction, and may do so multiple times. In the event a transaction or item is resubmitted for payment at a time when your account lacks sufficient available funds to pay it and we decline it, we will charge a related NSF Fee for each such resubmitted item each time that same transaction is presented and returned unpaid (per presentment).
NSF Transactions. We are not obligated to pay any item presented for payment if your account does not contain sufficient available funds. You are responsible for ensuring that your account includes sufficient available funds to pay the transactions you initiate or authorize when they are processed for payment from your account, and you also acknowledge that the timing of when merchants or payees submit transactions to us for payment may vary. If your account does not have sufficient available funds when a transaction or item is presented to us for payment and, as a result, returned unpaid, the merchant or payee of your transaction or item may choose to resubmit the same transaction, and may do so multiple times;[this may also occur when you initiate transfers and payments through your Credit Union Online Banking or Bill Payment services and your account lacks sufficient available funds at the time the transaction is scheduled to occur, as we may decline the transaction, and then resubmit the same transaction at a later time in an attempt to process your requested transaction]. Part IV – EFT This Part IV of the Agreement sets forth the terms and conditions governing electronic fund transfers. Electronic fund transfers (“EFTs”) are electronically initiated transfers of money involving a deposit account at the Credit Union and multiple access options, such as online account access, direct deposits, automated teller machines (ATMs), Debit Card and Audio Response Teller banking. Your acceptance, retention, or use of an ATM Card, Debit Card, Personal Identification Number (PIN), Access Code, or other EFT hereunder constitutes an agreement between us and you to be bound by the additional terms and conditions contained in this Part IV. Where not in conflict with the terms of this Part IV, the general terms and conditions elsewhere in this Agreement, or such other agreements under which electronic services may be provided remain in full force and effect and continue to be applicable, except as specifically modified by this Part IV. These disclosures are given by us in compliance with the Electronic Fund Transfer Act (15 USC § 1693 et seq.) and Regulation E (12 CFR Part 1005) to inform you of certain terms and conditions for use of the electronic services described in this Agreement. At the present time, we offer the following electronic services: o Preauthorized deposits of net paycheck; o Payroll deductions; o Preauthorized deposits of pension checks and federal recurring payments ...
NSF Transactions. We are not obligated to pay any item presented for payment if your account does not contain sufficient available funds. If we do not authorize and do not pay an overdraft, then we decline or return the transaction or item unpaid and charge a related NSF Fee as stated in our Schedule of Fees and Charges. You are responsible for ensuring that your account includes sufficient available funds to pay the transactions you initiate or authorize when they are processed for payment from your account, and you also acknowledge that the timing of when merchants or payees submit transactions to us for payment may vary. If your account does not have sufficient available funds when a transaction or item is presented to us for payment and, as a result, returned unpaid, the merchant or payee of your transaction or item may choose to resubmit the same transaction, and may do so multiple times. In the event a transaction or item is resubmitted for payment at a time when your account lacks sufficient available funds to pay it and we decline it, we will charge a related NSF Fee for each such resubmitted item each time that same transaction is returned unpaid. 8. Weofferoptionaloverdraftprotectionplansthatyoumayapplyfor,such as a Personal Line of Credit loan account where your line of credit is used for overdraft protection, and an Overdraft Protection Service where funds from a linked savings account are used for overdraft protection. If you qualify for these optional services, we will look first to these services for overdraft protection before applying our discretionary Courtesy Pay Service when your account is overdrawn. A Personal Line of Credit and the Overdraft Protection Service plan may save you money on the total fees you pay us for overdraft protection.