Overdraft Privilege Service Clause Samples
The Overdraft Privilege Service clause defines the terms under which a financial institution may cover transactions that exceed the available balance in a customer's account. Typically, this service allows the bank to pay checks, debit card purchases, or other withdrawals even if the account lacks sufficient funds, up to a specified limit, and usually charges a fee for each overdraft covered. This clause ensures that customers can avoid declined transactions or returned checks, providing a safety net for occasional shortfalls, while also clarifying the costs and conditions associated with using the service.
Overdraft Privilege Service.
1. In accordance with our commitment to provide valued service and benefits, we may, at our discretion, pay your overdrafts that would cause your eligible checking account to have a negative balance. We refer to this service as our Overdraft Privilege service (hereinafter referred to as the “Service”). The Service is different than the Overdraft Protection Service plan. The Service is a backup to your existing overdraft protection plans and will only be activated if funds are not available from those plans. This Overdraft Privilege Section sets forth the terms and conditions applicable to the Service.
Overdraft Privilege Service. We offer a discretionary overdraft service (Overdraft Privilege) to cover overdrafts on your checking accounts. The Overdraft Privilege service is offered to eligible business checking account owners, who qualify and remain in good standing with the Credit Union. The Credit Union provides the Overdraft Privilege Program as an accommodation to you and is not obligated to do so, even when it has done so in the past. You do not apply for this service. To be eligible for the Overdraft Privilege Program you must meet all of the following criteria:
Overdraft Privilege Service. This is a non-contractual service we provide on eligible consumer and non-consumer checking accounts for overdraft coverage. The Overdraft Privilege Service does not constitute either a written agreement of an obligation or a prearranged agreement for First Bank to pay overdrafts, and we may withdraw thisprivilege and cease paying overdrafts at any time, without prior notice of a reason or cause. First Bank may limit participation to one account with Overdraft Privilege Service based on account ownership, taxpayer identification number, or something similar. Payment of anoverdraftwillcontinueto beatthediscretionof FirstBank,andpaymentof an overdraftdoesnotobligateus topayfutureoverdrafts.
Overdraft Privilege Service. This is a non-contractual service we provide on eligible consumer and non-consumer checking accounts for overdraft coverage. The Overdraft Privilege Service does not constitute either a written agreement of an obligation or a prearranged agreement for First Bank to pay overdrafts, and we may withdraw this privilege at any time. Payment of an overdraft will continue to be at the discretion of First Bank, and payment of an overdraft does not obligate us to pay future overdrafts.
Overdraft Privilege Service. If you qualify for this service, we will generally approve overdrafts up to $700 for Blue Secure and Blue Secure Premier checking accounts. To be eligible, the account must be primarily used for personal and household purposes. Any and all bank fees and charges, including without limitation our Non-Sufficient Fund/Overdraft (NSF\OD) Charge, as set forth in this document; will be included in this limit. In applying for this discretionary service to your account, we consider the following:
1. Continuing to make deposits consistent with your past practices, and depositing at least $300 or more in your account within each thirty (30) day period,
2. You are not in default on any loan obligation to FIRST NATIONAL BANK OF KANSAS, and
3. Your account is not the subject of any legal or administrative order or levy. LIMITATIONS: Available only to eligible personal checking account primarily used for personal and household purposes (Business accounts, Money market accounts, and minor accounts are not eligible and we may limit the number of accounts eligible for the Overdraft Privilege* service to one account per household.
Overdraft Privilege Service. If you have a checking account and are in good standing, you may use our Overdraft Privilege ser- vice which allows you to overdraft the account up to a set limit. To be in good standing requires that you own a checking account for at least sixty (60) calendar days, be eighteen (18) years of age or older, not caused us a loss, and do not show a negative account history. If you qualify, we may pay your overdrafts up to a set limit and assess a service charge as stated in Our Rates & Service Charges disclosure. This service will not apply to ATM transactions or to non-recurring debit card transactions unless you notify us that you would like to opt in to coverage of such transactions, in accord- ance with any notification procedures that we may require. If you use this service, we will notify you of the amount paid, including the fee per transaction, and you will have thirty (30) calendar days to reimburse us for paid checks, drafts items, EFTs and fees. For more information on this service, please contact us at 808-885- 7349.
Overdraft Privilege Service. In our ongoing effort to provide excellent customer service, we will approve your reasonable overdrafts up to $500.00 as long as your account is in good standing*. We retain the right to do so at our discretion and not as an obligation to you. When your account qualifies for this service you will be notified in writing, at which time you may also opt into Overdraft Privilege Plus. When opting into Overdraft Privilege Plus, you can have your one-time ATM and Point-of-service (POS) purchases paid into overdraft status by the overdraft program. Once your account qualifiles for Overdraft Privilege a qualifying packet will be sent to you with the necessary information and opt-in notice to sign and return.