Common use of Right to Pay or Return Clause in Contracts

Right to Pay or Return. If paper check, debit card, ACH or other electronic type transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). We will not honor overdrafts of any type from the ATM or over the counter with a teller. While we reserve the right to pay or not pay any item presented without sufficient funds, you may request that we not pay such items. In that case, we will return any item presented without sufficient funds (NSF). If you prefer that we not pay such items you must contact us at the address or phone number listed in the Schedule and informing us that you do not want us to pay any items presented without sufficient funds. If you do not notify us, we retain the right, in our discretion, to pay or not pay any item presented without sufficient funds. The amounts of the overdraft and NSF fees are disclosed in the Schedule. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees. Privilege Pay Opt Out If you prefer that we do not pay your checking account in the negative, you may opt out by selecting one of the following: • Call one of the following numbers (000) 000-0000 or toll free 0-000-000-0000 • Mail us a signed statement that says “I prefer that Cyprus Federal Credit Union not pay my checking account in the negative.” Include your name (as it appears on your account), your mailing address, city, state, zip, and account number(s). Mail it to us at: Cyprus Federal Credit Union X.X. Xxx 0000 Xxxx Xxxxxx, XX 00000 xxx.xxxxxxxx.xxx

Right to Pay or Return. If paper check, debit card, ACH or other electronic type transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). We will not honor overdrafts of any type from the ATM or over the counter with a tellerATM. While we reserve the right to pay or not pay any item presented without sufficient funds, you may request that we not pay such items. In that case, we will return any item presented without sufficient funds (NSF). If you prefer that we not pay such items you must contact us at the address or phone number listed in the Schedule and informing us that you do not want us to pay any items presented without sufficient funds. If you do not notify us, we retain the right, in our discretion, to pay or not pay any item presented without sufficient funds. The amounts of the overdraft and NSF fees are disclosed in the Schedule. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees. Privilege Pay Opt Out If you prefer that we do not pay your checking account in the negative, you may opt out by selecting one of the following: • Call one of the following numbers (000) 000-0000 or toll free 0-000-000-0000 • Fill out an Overdraft Opt In/Out Form in any Cyprus Branch • Mail us a signed statement that says “I prefer that Cyprus Federal Credit Union not pay my checking account in the negative.” Include your name (as it appears on your account), your mailing address, city, state, zip, and account number(s). Mail it to us at: Cyprus Federal Credit Union X.X. Xxx 0000 Xxxx Xxxxxx, XX 00000 xxx.xxxxxxxx.xxx