Common use of Payment of Items Clause in Contracts

Payment of Items. We may, at our discretion, refuse payment of, and return as unpaid, any item drawn on an Account if the balance of collected funds in the Account is insufficient to pay the total amount of such item, and a service fee will be charged against the Account for the processing and return of the item. We accept no responsibility for the payment of items which are presented the same Banking Day on which deposits are made to an Account, unless there is already a sufficient balance of collected and readily available funds in the Account to pay the total amount of such item. Payment of an item may be refused by us, at our sole discretion, if the item is written in pencil, illegible, improperly prepared, stale or post-dated, presented beyond the date of payment, contains a double endorsement or is not negotiable for any reason.