Common use of Overdraft Charges Clause in Contracts

Overdraft Charges. If at any time Customer has an overall net negative collected balance in a deposit account, the Bank is authorized to assess an overdraft charge and interest fees in such amounts as may be established by the Bank from time to time. If Customer is notified that a deposit account has been overdrawn at any time, Customer agrees, without negating the effect of any other provisions of this Agreement, to deposit immediately available funds with the Bank to return and maintain such deposit account to a positive collected balance. Any overdraft existing at the close of a banking day is immediately due and payable without notice or demand.