Transaction Posting Times and Funds Availability Clause Samples

The 'Transaction Posting Times and Funds Availability' clause defines when transactions are officially recorded to an account and when deposited funds become accessible to the account holder. It typically outlines the cut-off times for processing deposits, withdrawals, and transfers, and may specify differences between business days and weekends or holidays. This clause ensures customers understand when they can expect their funds to be available for use, thereby preventing confusion or disputes about account balances and transaction timing.
Transaction Posting Times and Funds Availability. Our Funds Availability Policy is disclosed in our Account Rules and Regulations disclosure under the section titled “When Funds Are Available for Withdrawal.” The “beginning balance,” “available balance,” “current balance,” and “overdraft transfer balance” are displayed online on the Account Detail screen for each of your share/deposit accounts. These balances are defined in the Account Rules and Regulations under the section titled “Account Balance and Posting Order.” These various balances displayed for any of your accounts may show the same or a different amount depending on our posting procedures for the different types of transactions and recent transaction activity on your account. The available balance provides the most up-to-date information about funds available to you to pay items from a particular account; however, even your available balance may not reflect every transaction, or the final amount of any transaction, you initiated or authorized. Transfers you make online between your share/deposit accounts will be reflected immediately in the current balance and available balance fields for both the “transfer-from” and “transfer-to” accounts. Such transfers increase or reduce (as applicable) the available balance in each account immediately. However, transfers will not actually post to the accounts at that time and will not show in the transaction history for the respective accounts until after end-of-day posting. Payments you make online to your Credit Union credit accounts (mortgage loans, personal loans, lines of credit and credit card accounts – your “payment-to” accounts) from your deposit and share accounts generally take one business day to post to (or be reflected on) your payment-to accounts; however, these payments are credited to your payment-to accounts effective the business day on which the payments are actually made as long as you initiate the payment during that business day’s business hours. Payments reduce the balance, and are reflected immediately, on your payment-from account. It is your responsibility to monitor your accounts to ensure that you always have sufficient available funds to cover items you initiate along with any potential resulting charges. By maintaining accurate records of your deposits and withdrawals, you are in the best position to ensure that your account has sufficient funds available to cover each item presented for payment against the account. Keep in mind that the order in which we receive, process and ...
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Related to Transaction Posting Times and Funds Availability

  • Funds Availability For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, federal holidays and legal banking holidays in the State of Utah.

  • RDDS availability Refers to the ability of all the RDDS services for the TLD, to respond to queries from an Internet user with appropriate data from the relevant Registry System. If 51% or more of the RDDS testing probes see any of the RDDS services as unavailable during a given time, the RDDS will be considered unavailable.

  • Service Availability You understand that Service availability is at all times conditioned upon the corresponding operation and availability of the communication systems used in communicating your instructions and requests to the Credit Union. We will not be liable or have any responsibility of any kind for any loss or damage thereby incurred by you in the event of any failure or interruption of such communication systems or services resulting from the act or omission of any third party, or from any other cause not reasonably within the control of the Credit Union.

  • Circumstances Affecting LIBOR Rate Availability In connection with any request for a LIBOR Rate Loan or a conversion to or continuation thereof, if for any reason (i) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan, (ii) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that reasonable and adequate means do not exist for the ascertaining the LIBOR Rate for such Interest Period with respect to a proposed LIBOR Rate Loan or (iii) the Required Lenders shall determine (which determination shall be conclusive and binding absent manifest error) that the LIBOR Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loans during such Interest Period, then the Administrative Agent shall promptly give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, the obligation of the Lenders to make LIBOR Rate Loans and the right of the Borrower to convert any Loan to or continue any Loan as a LIBOR Rate Loan shall be suspended, and the Borrower shall either (A) repay in full (or cause to be repaid in full) the then outstanding principal amount of each such LIBOR Rate Loan together with accrued interest thereon (subject to Section 5.1(d)), on the last day of the then current Interest Period applicable to such LIBOR Rate Loan; or (B) convert the then outstanding principal amount of each such LIBOR Rate Loan to a Base Rate Loan as of the last day of such Interest Period.

  • Laws Affecting LIBOR Rate Availability If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders (or any of their respective Lending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any LIBOR Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make LIBOR Rate Loans and the right of the Borrower to convert any Loan or continue any Loan as a LIBOR Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a LIBOR Rate Loan to the end of the then current Interest Period applicable thereto as a LIBOR Rate Loan, the applicable LIBOR Rate Loan shall immediately be converted to a Base Rate Loan for the remainder of such Interest Period.