What Is An Account Disclosure Agreement

Transfers to cover overdrafts. You understand and accept that we have the right to transfer money available from one of your other accounts (excluding IICS and certificate accounts) to your current account, including accounts you co-own, up to the overdraft and related fees. LIKE TRANSACTIONS POSTED TO YOUR ACCOUNT. There are essentially two types of transactions in your account: funds or deposits of money in your account, and debits or payments from your account. It is important to understand how everyone is applied to your account so that you know how much money you have and how much you have at any given time. This section usually explains how and when we book transactions on your account. F. Introducing/booking electronically We may debit your account on the day a cheque or other transaction is submitted to us (or returned) for payment. We may also debit your account earlier or keep a balance if we receive notification that an item or transaction has been deposited at another institution or a merchant (for example. B at a point-of-sale terminal) is settled on your account. Some merchants may obtain advance authorizations for point-of-sale transactions for more than the final amount of the transaction. This can affect the balance available in your account to cover other transactions. We are not liable for damages or illegitimate dishonesty if an item is not paid because there are not enough resources from these procedures.

We reserve the right to process and book transactions on your account in any order we have identified. In general, we do not sort transactions in dollar amounts, but we treat them as they are received, and we generally process audits through a circle of cheque numbers. The order in which you make withdrawals from your account is not necessarily the order in which we book transactions on your account. This processing order may affect whether you are collecting overdraft or overdraft rights on NSF. (Back to the top) G. Checking bank statements and error notificationsIn the absence of otherwise notices, we will regularly send an account statement to the last address you gave us for accounts that are not regularly subject to the sending of accounts. You agree to inform us immediately if you change your address. You also agree that if the U.S. Postal Service or one of its agents informs us of a change of address for you, we may change your address based on this information, even if the information provided by the U.S. Postal service is incorrect.

If a return is returned to us for the wrong address, we can send you bank statements, but for all intents and purposes, it continues to apply as if we provided your statement of account statement at the time of the statement of account printed on your statement of account, with payment of items and items or information paid for that will allow you to properly identify the items paid. You should check your statement of account and check the images for errors or unauthorized signatures. If the deposit account is a commercial account, you agree that at least two people regularly check bank statements to search for incorrect or unauthorized transactions and to ensure that the account is processed correctly. Unless the electronic transfer information in Part V, Section H or other documents applicable to electronic transfers appears if your statement contains inappropriate errors or charges, you agree to notify us of such errors or inappropriate charges within 30 days of the date we sent or provided the relevant statement.