Common use of Overdraft Protection Plans Clause in Contracts

Overdraft Protection Plans. We offer several discretionary overdraft protection plans that permit transfers from a savings account or line of credit account to cover overdrafts. An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts for checks, automatic ▇▇▇▇ payments and recurring ACH transactions. Also, upon your request, we offer a Courtesy Pay overdraft protection service to pay overdrafts for ATM and debit card transactions as set forth in Section 14.c. We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined. Under our standard overdraft practices, we will charge you a fee as set forth on the Rate and Fee Schedule, each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.