Check Presentment
Checks will be posted to your account in order of check number, from low to high, on the day they are presented for payment. Checks with no numbers will be posted in order of amount, from low to high.
We reserve the right to return unpaid any item presented for payment, check or otherwise, that is incompletely or defectively drawn. Fees may be assessed in accordance with our Schedule of Fees.
We reserve the right, without prior notice to you, to either pay or return any item presented for payment against insufficient or uncollected funds. In addition to the amount of the item, we may charge your account a fee for the payment or return of the item against insufficient or uncollected funds, in accordance with our Schedule of Fees.
You agree, immediately upon notice from us, to deposit funds sufficient to cover any overdraft plus applicable charges. If we choose to honor any debit item that overdraws the Deposit Account, we do so at our discretion and will not be obligated to do so thereafter.
Post-Dated Checks
A check may not be dated later than the date on which it was written (referred to as post-dated). Despite any notice we may receive, we may pay or return a check that is post-dated without prior notice to you. If we choose to return the check, your account may be charged a fee in accordance with our Schedule of Fees.
Stale-Dated Checks
Despite any notice we may receive, if a check is more than six (6) months old, we may pay or dishonor the check, at our discretion, without prior notice to you. If we choose to return the check, your Account may be charged a fee in accordance with the Schedule of Fees.
Special Conditions – Check Forms
We reserve the right to require that you use a check printer that meets the technical standards for checks that are acceptable to us for processing. If you obtain checks from a vendor other than one we specify, you are liable for any fraudulent checks that may be created due to limited security features or any other claim that may arise.
We reserve the right to disregard any information placed on the check other than the maker’s signature, the payee, the amount, MICR encoding information and endorsements on the reverse side of the check. We cannot be held responsible for any returns or delays that arise from any markings or writing that is placed by you or another party (endorser) on the item.
If items are signed using any facsimile signature or non-manual form of signature, you acknowledge that it is solely for your benefit and convenience. You accept sole responsibility for maintaining security over any device affixing the signature and agree to comply with our facsimile signature policies. Such signature will be effective as your signature regardless of whether the person affixing it was authorized to do so.
Stop-Payment Orders
You may stop payment on a check drawn on a checking account or money market account with us by notifying us by email, calling us toll-free, or writing to Account Services, 409 Silverside Road, Suite 105, Wilmington, DE 19809, Attn: Customer Service. A stop-payment order must precisely identify the account number, the check number, the date and amount of the item, and the name of the payee. When you notify us, you must include all required information and provide us a reasonable opportunity to act for the stop-payment order to be effective. We will not be responsible if the check for which you requested a stop is not described accurately or has been previously certified or paid by us.
Stop-payment orders placed or renewed in writing shall be effective for six (6) months. The Bank may accept an order to extend the stop-payment for an additional six (6) months, provided the order is received in writing prior to the expiration of the prior six-month period. Oral or email requests not confirmed in writing to us after 14 days are not binding upon the Bank. An authorized signer must make a release of the stop-payment request in writing. Stop-payment orders may be subject to a fee in accordance with our Schedule of Fees. If we pay a check over your valid and timely stop order, we may re-credit your account. If we do this, you may sign a statement describing the dispute with the payee and transfer to the Bank all of your rights against the payee or other holder of the check. In addition, you will assist us in any legal action taken against the payee or other holder of the check.