OVERDRAFT TRANSFER. When the cardholder signs up for overdraft transfer:
OVERDRAFT TRANSFER. Overdraft Transfer is an optional overdraft transfer program where you authorize us to make transfers from another account (“Transfer Account”) you have designated for overdraft transfers and overdraft transfer fees to cover Overdrafts on your Checking Account. This service is optional and by request. Eligible Transfer Accounts are at the sole discretion of the Credit Union. However, all Owners on the Checking Account must be Owners on the Transfer Account. If you have set up Overdraft Transfer on your Checking Account, we will consider, without obligation on our part, paying items for which your Checking Account has insufficient or unavailable funds, instead of automatically returning those items unpaid. For each day an Overdraft Transfer is made, we will charge you an overdraft transfer fee as contained in the Fee Schedule. We will not transfer more than the available funds in a Transfer Account. Available funds (“Available Funds”) are funds that are immediately available for transfer or withdrawal and do not include deposits which are not yet available or other funds which are not available, such as but not limited to, a par value or minimum balance requirement. If the Available Funds in a Transfer Account are not enough to pay the full amount of the transactions you have initiated on any day, we will transfer up to the Available Funds to pay one or more transactions. When there are not enough Available Funds in the Transfer Account to fully pay an item, we will either a) transfer up to the Available Funds and use Courtesy Pay when available for the remining amount or, b) if you do not have Courtesy Pay available to pay the remaining amount, we will not transfer the partial amount and may return the item. The Overdraft Transfer Fee is applied at the end of the day. Available Funds in your Transfer Account may be used for applicable fees. Any transactions that are not paid by the Overdraft Transfer will either be paid through one of our other overdraft services, if applicable, or returned unpaid and any applicable fees will be assessed as contained in the Fee Schedule. We may terminate Overdraft Transfer at anytime with or without notice to you. Any Owner of a Transfer Account may decline or cancel Overdraft Transfer by contacting us. The election to cancel will be effective after we have received notice and have had a reasonable time to act on it. Courtesy Pay Service – Courtesy Pay is a discretionary overdraft service for qualifying Checking Accounts i...
OVERDRAFT TRANSFER. This service links your checking account to another share or deposit account, an overdraft line-of-credit account, or other account you so designate. When you do not have enough available funds (insufficient funds) to cover an item in your checking account, we may automatically transfer funds from the available balance in your linked overdraft transfer account. Insufficient funds may result from the presentation of a check, ACH, PIN-based debit card purchase transaction, signature-based debit card purchase transactions, or any combination of these transactions. We generally charge an overdraft transfer fee for each transfer. However, at our discretion, we may limit the daily fee assessed and a transaction threshold. Funds you deposit into your linked overdraft transfer account may not be available immediately for overdraft transfer.
OVERDRAFT TRANSFER. We will first attempt to transfer available funds from your other accounts and loans in the order specified by your instructions. In the absence of instructions from you, Mission Fed may, but is under no obligation to and generally will not, transfer funds in any order and from any of your accounts or loans. Transfers will be made for the amount needed to pay the item plus applicable fees. Refer to the current Consumer Fee Schedule for the fee amount. Mission Courtesy Pay. If a check or ACH item is presented for payment and your available balance is insufficient to pay an item, and we are unable to transfer funds as described above in the Overdraft Transfer section, at our discretion we may pay eligible transactions. A fee will be charged for each item we pay that results in a negative available balance. This service is only available on accounts that meet specified criteria as determined by Mission Fed, and the amount your account will be taken negative utilizing this service may fluctuate based on your account status. Contact Mission Fed to determine whether your account is eligible and the maximum overdraft amount available. Fees will decrease the amount available for payment of your eligible transactions under this service. Mission Fed reserves the right to limit participation, add or delete eligible transactions and discontinue the service at any time without prior notice. If you are eligible, you will be automatically enrolled, and if you do not wish to utilize this service you must notify us. For members who participate in Mission Courtesy Pay and already have Mission Debit Card Privilege for POS and signature-based Debit Card purchase transactions, the maximum overdraft amount available is for both services. Mission Debit Card Privilege. This service is only available on accounts that meet specified criteria determined by Mission Fed and you must enroll, or opt-in, to Mission Debit Card Privilege (MDCP) to utilize this service. In the event a POS or signature-based Debit Card transaction is presented for authorization and funds are not sufficient in your available balance to authorize the item, the item may be declined. With MDCP, the transaction may be authorized and take your available account balance negative. Fees will be charged for items paid resulting in a negative available balance, and holds for Debit Card transactions are excluded from available balance calculations during fee assessment. The maximum amount your account will be taken nega...
