Overdrafts in General Clause Samples

Overdrafts in General. An Account Overdraft could occur if you do not have sufficient funds available in your Account. We are not obligated to pay any Item presented for payment if your Account does not contain sufficient funds. Fees can be avoided for Overdrafts and returned Items by verifying your Accounts contain a sufficient Available Balance to cover your transactions. We may pay Overdrafts at our discretion, but you are responsible for any overdrawn balances and any associated fees. If there is an Overdraft paid by us on an Account with more than one Owner, each Owner, shall be jointly and severally liable for such Overdraft, plus any applicable fees. You will be notified by mail of any Overdraft Items, paid or returned that you may have; however, we have no obligation to notify you before we pay or return any Item. If you do not wish for us to pay Overdrafts at our discretion, please contact the Customer Contact Center at the phone number listed at the beginning of this Agreement to opt out. Overdraft Item Fee or a Returned Item Fee may be imposed on transactions such as: • The presentment of checks; • Automated teller machines (ATM) withdrawals; • Debit card transactions; • Preauthorized automatic debits: • Telephone-initiated transfers; • Digital Bankingtransfers; • Other electronic transfers; or • Other withdrawal requests. We must obtainyouraffirmativeconsent beforepaying Overdrafts forATM transactions or everydaydebit card transactions. Wewill not chargeyou an Overdraft Item Fee ifyourAccount is overdrawn, in total, byless than $5.00 andwill notchargeyouformorethan 6 Overdraft Item Feesaday. Also, please be aware that the order transactions are posted may create multipleOverdrafts during asingledayor multiple Overdrafts on a single Item. See the