Transaction Posting Order Clause Samples

The Transaction Posting Order clause defines the sequence in which a financial institution processes and records transactions to an account. In practice, this clause specifies whether credits or debits are posted first, and may outline the order for different types of transactions, such as checks, electronic payments, or deposits. By establishing a clear posting order, the clause helps prevent confusion over account balances, reduces disputes about overdrafts or fees, and ensures transparency in how transactions affect the account.
Transaction Posting Order. Generally, most transactions are posted to your account according to the date and time in which these transactions are presented to the Credit Union. Certain transactions may be posted after regular Credit Union hours during nightly processing. Generally, transactions are posted throughout the day, in the order received by the Credit Union. The table below provides additional details on the order in which different types of transactions are posted to your account. Transaction Category When Posted to Your Account Transaction Type When Posted to Your Account
View SourceView Similar (6)
Transaction Posting Order. In the normal course of business, the Bank generally posts transactions during nightly processing at the end of each business day in the following order unless otherwise noted in the Transaction Posting Order Chart or section titled Helpful Transaction Posting Order Facts below. Deposits and other credits post to an account before any withdrawal or debit transactions after they are sorted from lowest to highest by dollar amount. Withdrawals and other debit transactions are separated into groups. They are then sorted within those groups from lowest to highest, generally by dollar amount or check number order. The table below shows the usual order for the most common transactions that post to an account during nightly processing. Sequence Transaction Group Order Sort Order According To 1 Deposits and Other Credits Low to High Dollar Amount 2 Chargebacks & Wire Transfers Low to High Dollar Amount 3 Internal Transfers Low to High Dollar Amount 4 In-Branch Withdrawals (with no check number) Low to High Dollar Amount 5 In-Branch Withdrawals (with a check number) Low to High Check Number 6 ATM Withdrawals Low to High Dollar Amount 7 Debit Card Transactions Low to High Dollar Amount 8 ACH Transactions (with no check number) Low to High Dollar Amount 9 ACH Transactions (with a check number) Low to High Check Number 10 Checks (with no check number) Low to High Dollar Amount 11 Checks (with a check number) Low to High Check Number 12 Other Bank Transactions Low to High Dollar Amount 13 Fees Low to High Dollar Amount 14 Account Service Charges Low to High Dollar Amount • Nightly processing occurs on regular business days (e.g. no Saturdays, Sundays or federal holidays). • Deposits and other credits post before any withdrawal or debit transactions. • Within each group, transactions with no check number will post first, sorted by dollar amount, low to high. Then, transactions with check numbers will post, in check number order, from low to high. • Overdraft fees post after each transaction that causes an account to be overdrawn. • Transactions may not be processed in the order in which they occur. • The order in which transactions post may affect the total number of fees that are incurred Deposits are not accepted by City National Bank until received at the Bank’s headquarters office in Lawton, Oklahoma, or such other processing center as the Bank may use, even though the Bank may provide you with provisional credit.
View SourceView Similar (3)
Transaction Posting Order. On any business day, if we receive more than one item for payment from your account and we determine that your available balance is sufficient to pay some, but not all of those items, then the number of items paid and the resulting applicable charges you incur could be affected by the order in which we post those items. For example, if we post items within a category in the order of their decreasing dollar amounts (known as “high-to-low”), your account balance will be reduced by greater dollar amount items first. High-to- low posting will increase the risk that lesser dollar amount items will be returned for insufficient funds or create overdrafts in your account, and that we will assess and debit more applicable charges against your account. However, high-to-low posting also will reduce the risk that important larger dollar items, such as your mortgage, insurance premium or car payment will be returned unpaid for insufficient funds in your account. First We ADD all deposits and other credits to your account high-to-low Then we SUBTRACT Second Service fees and charges assessed at the time of or on the date of occurrence, such as stop payment request fees, overdraft charges, insufficient funds charges (as applicable), and ATM balance inquiry fees high-to-low Third Outgoing wire transfers of funds high-to-low Fourth Items that you did not initiate, for example, returned deposited items and any other reversal of a credit to your account high-to-low Fifth Items that you initiated and we authorized before they were presented to us for payment or in-person withdrawals, such as ATM cash withdrawals, POS and other debit card transactions, UMB online bill payments, and Online Banking transactions, that show the date and time at which we authorized the item chronological by date and time of authorization Six Items that you initiated and we authorized before they were presented to us for payment or in-person withdrawals, such as ATM cash withdrawals, POS and other debit card transactions, UMB online bill payments, and Online Banking transactions, that do not show the date and time at which we authorized the item low-to-high Seventh All other items that we did not authorize before they were presented to us for payment, such as your checks and most ACH payments (for example, checks that are converted by the payee to electronic debit transactions), withdrawals (for example, your mortgage, car payment, or utility bill), and other teller transactions at a UMB branch high-...
View Source
Transaction Posting Order. Bank reserves the right to decide the order of the items Bank will pay and which items will be returned (if any). Bank’s posting order may not be the same as the order in which you conducted a transaction and could result in overdraft fees, if you do not have available funds at the time the item is paid. Generally, Bank posts the following three transaction types (to the extent applicable to your account) in the following order: • ACH credits will be posted before ACH debits to your Account on a per file basis. This means that if Bank receives an ACH file at 1 pm for a debit to your Account and at 2 pm receives an ACH file for a credit, the debit will post to your Account before the credit. • Your non-check withdrawals will be posted in date/time order, based on the date and time associated with each transaction. A date and time (if one is available) will be assigned to each transaction based on one of the following: (1) when the transaction was preauthorized (for example a debit card or ATM transaction was approved); or (2) when the transaction was processed by Bank (for example an ACH, or bill pay transaction for which there is no pre-authorization). • If check payments are supported by the Platform, your checks will be posted on a per file basis. Files are usually processed once per day, but could be processed more often, (For example: on Monday at 8 am Bank may receive and post check # 107; and at 2 pm Bank may receive Check #105, if the Checks are processed in separate files, Check # 107 would post before Check # 105).
View Source
Transaction Posting Order. Generally, most transactions are posted to your account according to thedate and time in which these transactions are presented to the Credit Union. Certain transactions may be posted after regular Credit Union hours during nightly processing. Generally, transactions are posted throughout the day, in the order received by the Credit Union. The table below provides additional details on the order in which different types of transactions are posted to your account. Transaction Category When Posted to Your Account Teller transactions (deposits, internal transfers, withdrawals, checks cashed, loan payments) At the time and in the order you request the transaction Phone transactions (internal transfers, withdrawals, loan payments) At the time and in the order you request the transaction Outgoing wire transfers (debits) Posted by the end of the business day the wire was requested (Saturday is not a business day), allowing reasonable time for the credit union to process the wire. Incoming wire transfers (credits) Upon receipt from the sending institution, allowing reasonable time for the credit union to process the wire ATM transactions (deposits, transfers, withdrawals) In time stamp order (Please note – there may be occasions in which systems are offline. In these cases, transactions post when systems are back online.) Merchant (pin-based) debits In time stamp order (Please note – there may be occasions in which systems are offline. In these cases, transactions post when systems are back online.) Merchant (Visa signature) debits When presented for payment by the merchant. Presentment by the merchant may be delayed several days after you conduct the transaction. Transaction Type When Posted to Your Account ACH credits and debits We may receive ACH files several times each business day; each file may contain both debits and credits. Credits are posted at the time they are received by the credit union and debits are posted on the settlement date indicated in the transaction. Checks In ascending dollar order (low to high) and if more than one check for the same dollar amount, the checks are then posted in ascending check number order Service Charges Fees for non-sufficient or unavailable funds are charged throughout the day based upon your available balance at the time the corresponding debit transaction is presented for payment. Fees for processing returned deposits or returned loan payments are posted throughout the day based upon notification of non- payment rec...
View Source
Transaction Posting Order. The table below shows the usual order for the most common transactions that post to an account during nightly processing. At the end of each business day, transactions are processed in what is known as nightly processing. We start with your account’s current balance as of the end of the prior business day. Then, we subtract holds placed on a deposit to your account and holds placed due to legal process. The resulting balance becomes your available balance which will be used in nightly processing. We need only make one determination whether there are sufficient available funds in your account when deciding whether to pay or return an item. Certain transactions, such as, on-us checks cashed, debit card transactions, teller transactions, online banking transfers, and automatic loan payments, may post on a Saturday or Federal Holiday. 1 + Credits (i.e., Direct Deposits (ACH), Check Deposits) 2 - Debits (Transacted in Person) ATM Withdrawals Automatic or Phone Transfer Internet and Online Transactions Date and time order of transaction 3 - POS (Point of Sale) Debit Card Transactions Date and time order of transaction 4 - ACH Debits Date and time order of transaction 5 - Checks By check serial number (smallest to largest) 6 + Interest 6 - Service Charges* (including, but not limited to, Monthly Fee, Paper Statement Fee, Inactivity Fee, Continual Negative Balance Fee) *Other fees as described in the Fee Schedule, can be assessed at the time of the transaction or service request. The order of transaction posting described above is intended to be representative of the most common types of transactions within each category, and other items may be processed to your account, even if they are not specifically listed above. We may change the order in which we process and post transactions at any time, regardless of any request or instruction you give us, and we may do so in our sole discretion. If you suspect any unauthorized transactions on your account, notify us immediately. If you fail to do so within the specified time frames, you are at risk for incurring a portion of, or the entire loss.
View Source
Transaction Posting Order. Generally, most transactions are posted to your account according to the date and time in which these transactions are presented to the Credit Union. If the Credit Union returns an item unpaid, it may be resubmitted for payment and is subject to an overdraft, non-sufficient funds or uncollected funds fee each time it is presented (as set forth in our Deposit Rate Sheet and Fee Schedule). Certain transactions may be posted after regular Credit Union hours during nightly processing. Generally, transactions are posted in the order received by the Credit Union as follows: Transaction Type When Posted to Your Account Transaction Type When Posted to Your Account
View Source

Related to Transaction Posting Order

  • Certain Post-Closing Obligations As promptly as practicable, and in any event within the time periods after the Effective Date specified in Schedule 5.14 or such later date as the Term Administrative Agent agrees to in writing, including to reasonably accommodate circumstances unforeseen on the Effective Date, the Borrower and each other Loan Party shall deliver the documents or take the actions specified on Schedule 5.14 that would have been required to be delivered or taken on the Effective Date, in each case except to the extent otherwise agreed by the Term Administrative Agent pursuant to its authority as set forth in the definition of the term “Collateral and Guarantee Requirement.”

  • Transaction Procedures All series transactions for the Designated Series shall be consummated by payment to, or delivery by, the Custodian(s) from time to time designated by the Fund (the “Custodian”), or such depositories or agents as may be designated by the Custodian in writing, of all cash and/or securities due to or from the Series. The Subadviser shall not have possession or custody of such cash and/or securities or any responsibility or liability with respect to such custody. The Subadviser shall advise the Custodian and confirm in writing to the Fund all investment orders for the Designated Series placed by it with brokers and dealers at the time and in the manner set forth in Schedule A hereto (as amended from time to time). The Fund shall issue to the Custodian such instructions as may be appropriate in connection with the settlement of any transaction initiated by the Subadviser. The Fund shall be responsible for all custodial arrangements and the payment of all custodial charges and fees, and, upon giving proper instructions to the Custodian, the Subadviser shall have no responsibility or liability with respect to custodial arrangements or the act, omissions or other conduct of the Custodian.

  • Transaction Reports Subadviser shall provide Investment Manager a daily trade file with information relating to all transactions concerning the allocated portion of the Fund’s assets for which Subadviser is responsible and shall provide Investment Manager with such other information regarding the Fund upon Investment Manager’s reasonable request. Subadviser shall affirm or send a trade file of these transactions as instruction to the custodian of the Fund.

  • Transaction Processing All orders are subject to acceptance by us and by the Fund or its transfer agent, and become effective only upon confirmation by us. If required by law, each transaction shall be confirmed in writing on a fully disclosed basis and if confirmed by us, a copy of each confirmation shall be sent to you if you so request. All sales are made subject to receipt of shares by us from the Funds. We reserve the right in our discretion, without notice, to suspend the sale of shares of the Funds or withdraw the offering of shares of the Funds entirely. Orders will be effected at the price(s) next computed on the day they are received if, as set forth in the applicable Fund’s current Prospectus, the orders are received by us or an agent appointed by us or the Fund prior to the close of trading on the New York Stock Exchange, generally 4:00 p.m. eastern time (“Close of Trading”). Orders received after that time will be effected at the price(s) computed on the next business day. All orders must be accompanied by payment in U.S. Dollars. Orders payable by check must be drawn payable in U.S. Dollars on a U.S. bank, for the full amount of the investment. If you have entered into a FundSERV Agreement with us to effect transactions in Fund shares through FundSERV, you are hereby authorized to act on our behalf for the limited purpose of receiving purchase, exchange and redemption orders for Fund shares executed through FundSERV. You represent and warrant that all orders for the purchase, exchange or redemption of Fund shares transmitted to FundSERV for processing on or as of a given business day (Day 1) shall have been received by you prior to the Close of Trading on Day 1. Such orders shall receive the share price next calculated following the Close of Trading on Day 1 .You represent and warrant that orders received by you after the Close of Trading on Day 1 shall be treated by you and transmitted to FundSERV as if received on the next business day (Day 2). Such orders shall receive the share price next calculated following the Close of Trading on Day 2. You represent that you have systems in place reasonably designed to prevent orders received after the Close of Trading on Day 1 from being executed with orders received before the Close of Trading on Day 1.

  • Receipts and Transaction History You may view your transaction history by logging into the Service and looking at your transaction history. You agree to review your transactions by this method instead of receiving receipts by mail.