Automatic Overnight Deposit definition

Automatic Overnight Deposit means a demand savings deposit with respect to which the agreed one night interest is paid on the Depositor’s funds placed in the Account(s) provided for in the Agreement. Interest is calculated on every Bank’s working day with respect to the balance available on the Account(s) on that day. Interest is transferred to the Account on the Bank’s last working day of every month.
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Examples of Automatic Overnight Deposit in a sentence

  • The threshold amount required for the establishment of the Automatic Overnight Deposit shall be determined by the Bank.

  • Once the Account Holder has submitted an Instruction to open an Automatic Overnight Deposit, the Bank shall automatically, without the need for the Account Holder to submit an additional Instruction, open a Time Deposit Account in the respective currency, intended to store the amount of the Automatic Overnight Deposit.

  • In the Instruction to open an Automatic Overnight Deposit, the Account Holder may specify the total amount which should be left in the Account following the establishment of the Automatic Overnight Deposit with the reservation that it may not be lower than the amount defined by the Bank.

  • The information on the current interest rate and currencies of Automatic Overnight Deposits, the minimum threshold amounts, and the amount of the minimum Automatic Overnight Deposit shall be available in the Private Banking Center (CBP).

  • If the Agreement with the Bank has been concluded by using the internet banking system or telephone banking services, the Bank shall automatically debit the amount of the Deposit from the Account, except for the Automatic Overnight Deposit.

  • From funds collected in a single Account, the Bank may open one Automatic Overnight Deposit on the same Business Day.

  • The amount of such Time Deposit shall be transferred back - at the beginning of the following Business Day - to the Account from which it was opened (Automatic Overnight Deposit).

  • The Bank shall establish an Automatic Overnight Deposit at the end of each Business Day without separate Instructions whenever there is at least the threshold amount in the Account covered by the Account Agreement as of the end of the day.

  • Interest on the amount of the Automatic Overnight Deposit shall be transferred by the Bank to the Account from which it was opened at the end of the period of its duration.