Fees and Overdrafts Clause Samples
Fees and Overdrafts. Company shall be responsible for those usual and customary service charges, transfer fees, and account maintenance fees (collectively, “Fees”) of Bank in connection with the Accounts that would otherwise exist in the absence of this Agreement. Secured Lender shall not have any responsibility or liability for the payment of any Fees. Company shall also be responsible for (a) any checks, ACH entries, wire transfers, merchant card transactions, or other paper or electronic items which were deposited or credited to the Accounts that are returned, reversed, refunded, adjusted or charged back for insufficient funds or for any other reason (“Returned Items”) and (b) all obligations and liabilities connected with the Accounts that arise out of any treasury management services provided by Bank, its subsidiaries or affiliates, including but not limited to, ACH, merchant card, zero balance account, sweeps, controlled disbursement or payroll (“Overdrafts”). If there are insufficient funds in the Accounts to cover any Fees, Returned Items or Overdrafts, Company agrees to immediately reimburse Bank for the amount of such shortfall.
Fees and Overdrafts. A transaction resulting in a withdrawal from or a deposit to your account using the VISA Debit Card or your PIN or other information which could provide electronic access to your account is considered the same as any other type of withdrawal or deposit for purpose of our Rate and Fee Schedule. The type of account determines if and when a fee will be assessed. Unless you have opted in to our Member Privilege Overdraft Protection Program, we will not process an ATM or one-time debit transaction that would create a negative balance in your account. If other withdrawals create a negative balance in your account, you agree to repay to us the amount of the overdraft, plus overdraft charges in the same manner as any other overdraft on your account. Please see our Rate and Fee Schedule for current charges. Foreign Transaction Fee. A 1% international transaction fee will be assessed on all transactions where the merchant country is not the United States. The converted transaction amount will be shown separately from the international transaction fee on your account statement. This fee will be assessed on all international purchases, credit vouchers, and cash disbursements. VISA charges 0.8% for international transactions that do not involve currency conversions. The exchange rate for transactions in a foreign country is the rate selected by VISA from the range of rates available in wholesale currency markets on the applicable central processing date, which rate may vary from the rate VISA itself receives, or the government mandated rate in effect for the applicable central processing date plus the 1% international transactions fee. VISA assesses a cash disbursement fee of US $1.25 on international ATM transactions where a surcharge fee has not been assessed. VISA also assesses a cash disbursement fee of US $0.50 on international ATM transactions where a surcharge fee has been assessed.