Overdraft Protection Options Sample Clauses

Overdraft Protection Options. We offer optional overdraft protection plans (referred to as “Overdraft Protection Options”) that you may apply for, such as a personal Line of Credit loan account where your line of credit is used for overdraft protection, and an overdraft transfer service where funds from a linked savings account are used for overdraft protection. If you qualify for these optional services, we will look first to these services for overdraft protection before applying our discretionary Courtesy Pay Service when your account is overdrawn. A line of credit and the savings account overdraft transfer service may save you money on the total fees you pay us for overdraft protection. • Line of Credit. This is a revolving line of credit, which is available to members meeting certain credit requirements. With this plan, you authorize us to automatically advance the exact amount of your overdraft from your line of credit (linked to your checking account) to cover your overdraft, up to your credit limit. You must repay what you have borrowed in full or in minimum monthly payments (in addition to any late charges, finance charges and annual fees). If you are approved for a line of credit, you will be provided with our Credit and Security Agreement, which contains the terms and conditions applicable to the line of credit. • Overdraft Transfer Service. With this service, you authorize us to make transfers of available funds automatically from your regular savings account to cover overdrafts in your checking account. Transfers from your savings account are made in the exact amount of the overdraft. Each transfer counts as one of the six (6) limited transactions you are allowed each month from your regular savings or money market account. You must request to enroll in this service. Overdrafts paid by either an advance on your line of credit are subject to finance charges and fees disclosed in the Credit and Security Agreement, while the savings account overdraft transfer service is subject to a fee as set forth in the Schedule of Fees. If you decline to utilize any of the Overdraft Protection Options and you are not eligible for our Courtesy Pay Service, and there are insufficient funds in your checking account to pay an item, your items will not be paid,they will be returned, and an NSF Fee may be charged for each check or ACH item returned each time an item is presented for payment and returned unpaid due to an insufficient available balance. Transfers will appear on your periodic stat...
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Overdraft Protection Options. TRANSFER FROM ANOTHER ACCOUNT – If you have other accounts with us, you can authorize us to transfer the funds needed to cover your overdraft.
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Overdraft Protection Options. The Credit Union offers three ways to allow a check draft, ACH or fee to be paid in a Non-Sufficient Funds situation:
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Overdraft Protection Options. If there are insufficient funds in your checking account, you may request that we automatically transfer funds another Affinity account or line of credit in your name. If you do not have a PrivateLine and would like to apply for one; complete Step 10. Please indicate the accounts you would like set up for overdraft protection in order of priority: 1. 2. 3. 4.
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Overdraft Protection Options. Initial selected overdraft option:
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Overdraft Protection Options. TRANSFER FROM ANOTHER ACCOUNT – The credit union will program your share draft account to automatically transfer funds from your regular share account to cover overdrafts, unless indicated otherwise by you.
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Related to Overdraft Protection Options

  • OVERDRAFT PROTECTION To the extent permitted by law, You authorize Us to transfer funds from other Accounts You may have with Us in necessary multiples (or in such increments as We may from time to time determine) to Your Account to cover any overdraft. If You have a line of credit with Us, transfers will be made first from Your primary share Account, provided You have enough available funds in that Account, then from Your line of credit up to Your available credit limit, and then We may elect to pay such overdraft, subject to any preference You have indicated to Us for clearing any overdraft(s). Overdraft transfers are subject to a transfer fee. You hold Us harmless from any and all liability which might otherwise exist if a transfer does not occur.

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