Common use of Overdraw Transfer Clause in Contracts

Overdraw Transfer. If you open a checking account, your savings account will automatically be set to transfer funds needed to cover an overdraft, if there are sufficient funds. If you have other accounts with us, you can authorize us to set those accounts up as well or in the place of your savings account. This service cannot be applied to other checking accounts. No application is required for this service. Use or allowance of Overdraw Transfer does not constitute an actual or implied agreement between you and us, nor does it constitute an actual or implied obligation of or by us. This service is discretionary and may be withdrawn or withheld by us at any time without prior notice or reason or cause. Each transfer results in a fee. You may opt out at any time.