Common use of Postdated and Stale Dated Items Clause in Contracts

Postdated and Stale Dated Items. You may not write postdated checks and New York University FCU will not be liable in any way for payment of postdated checks, or non-payment of other items due to the payment of postdated checks. If checks are written for amounts in excess of the collected account balance, and you have, either now or in the future, an unsecured Overdraft Line of Credit Account, funds may be transferred to the account as necessary to pay the checks, and the balance due New York University FCU under the unsecured Overdraft Line of Credit Account will be increased by the amount transferred to the account. If checks are written for amounts in excess of the collected account balance, New York University FCU may transfer funds from any regular savings account or any other savings account maintained by you, to repay the overdraft in the account; in no event will New York University FCU make any such transfer from any savings account if during the same month a total of six preauthorized or telephone transfers from that account have already been made. Please refer to the enclosed fee schedule for current fees. New York University FCU is under no obligation to pay a check on which the date is more than six months old. Stop Payment Orders.

Postdated and Stale Dated Items. You may not write postdated checks and New York University FCU will not be liable in any way for payment of postdated checks, or non-payment of other items due to the payment of postdated checks. If checks are written for amounts in excess of the collected account balance, and you have, either now or in the future, an unsecured Overdraft Line of Credit Account, funds may be transferred to the account as necessary to pay the checks, and the balance due New York University FCU under the unsecured Overdraft Line of Credit Account will be increased by the amount transferred to the account. If checks are written for amounts in excess of the collected account balance, New York University FCU may transfer funds from any regular savings account or any other savings account maintained by you, to repay the overdraft in the account; in no event will New York University FCU make any such transfer from any savings account if during the same month a total of six preauthorized or telephone transfers from that account have already been made. Please refer to the enclosed fee schedule for current fees. New York University FCU is under no obligation to pay a check on which the date is more than six months old. Stop Payment Orders.