Common use of Payment of Overdrafts Clause in Contracts

Payment of Overdrafts. If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft item, transaction or other item, plus applicable fee, that is posted to your account, we may return the item or post it as described below. Our determination of an insufficient available account balance may be made at any time between presentation and our deadline with only one review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an item. Your account may be subject to a charge for each item regardless of whether we pay or return the item.

Payment of Overdrafts. If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft item, transaction or other item, plus applicable fee, that is posted to your account, we may return the item or post it as described below. Our determination of an insufficient available account balance may be made at any time between presentation and our deadline with only one review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an item. Your account may be subject to a charge for each item regardless of whether we pay or return the item.. Updated: 10/2020 3