Common use of Liability for Overdrafts Clause in Contracts

Liability for Overdrafts. GENERAL. I am responsible for keeping track of the funds in my account that are available for me to use before I write a check, make a cash withdrawal at an ATM, or use my debit card for a transaction. Among other things, I should keep a running balance that reflects all of my transactions. I understand that it is imperative that I keep track of the transactions I may have authorized (such as outstanding checks or automatic bill payments I have authorized), as my available balance (discussed in more detail below) will not reflect these transactions until they are paid from my account.