Daily Overdraft Fee definition

Daily Overdraft Fee means a fee assessed because an account has been overdrawn for a number of consecutive days, by a minimum amount.
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Daily Overdraft Fee. The fee charged to your Account for each day the Account remains overdrawn starting on the seventh (7th) consecutive Business Day of the Overdraft. Debit card transaction: Any purchase or bill payment using your debit card. A Debit Card Transaction may be either an everyday (not recurring) purchase transaction or a recurring payment, such as a monthly bill.
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Daily Overdraft Fee. The fee charged to your Account for each day the Account remains overdrawn starting on the seventh (7th) consecutive Business Day of the Overdraft. Debit card transaction: Any purchase or bill payment using your debit card. A Debit Card Transaction may be either an everyday (not recurring) purchase transaction or a recurring payment, such as a monthly bill. Depositor: Any person who signs the Bank’s deposit Account opening forms and/or signature card. This includes each and every owner of the Account and anyone else with authority to exercise control over the funds in the Account. Direct Deposit: An automatic electronic deposit made through the ACH network to your Account by another party. Hold: Any amount of money that is in your Current Balance, but that cannot be withdrawn because of delayed funds availability, a court order or other reason. A Hold may be placed for more than your balance. Item: Any instrument for the payment, transfer, or withdrawal of funds from an Account, even though it may not be negotiable. Examples include Checks, electronic transactions such as ACH and ATM withdrawals, wire transfers, drafts, automatic transfers, and online banking transfers. References to an “Item” include, without limitation, situations where a Check or electronic transaction is re-presented or re-submitted (as well as situations where a Check is converted into an electronic transaction and submitted for payment). This means one authorized Check, electronic transaction, or other Item could result in multiple fees if such Item is presented or submitted for payment multiple times. Legal claim: a dispute in any way arising out of, affecting, or relating to this Agreement, your Account, or the related products and services the Bank has provided, will provide, or has offered to provide to you, and/or any aspect of your deposit relationship with the Bank.
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Examples of Daily Overdraft Fee in a sentence

  • When an Account is overdrawn (negative) for at least six (6) consecutive Business Days, then starting on the seventh (7th) consecutive Business Day a Daily Overdraft Fee is assessed on the Account as provided in the Fee Schedule for Personal Accounts.

  • When an account is overdrawn (negative) for at least six (6) consecutive business days, then starting on the seventh (7th) consecutive business day a Daily Overdraft Fee is assessed on the account as provided in the Fee Schedule for Business Accounts.

  • A NSF Charge and an additional Daily Overdraft Fee (for each day that your account is overdrawn, beginning on the 4th consecutive day), as set forth in our Service Fee List, will be assessed to your account.

  • Funds that are on Hold will not be used during our End of Day Processing to pay Items presented for payment, therefore, Overdraft Fees can be charged when the availability of funds you deposit are delayed due to a Hold.Our $8 Daily Overdraft Fee will be assessed each Business Day your Current Balance is overdrawn for up to fourteen (14) Business Days.

  • Daily Overdraft Fee: An $8 Daily Overdraft Fee will be assessed for each Business Day your Account has an overdrawn Current Bal- ance for up to fourteen (14) Business DaysBusiness Overdraft Honor Limit: For Accounts in the Business Overdraft Honor Program, the daily limit assigned to your Account to pay Items during our End of Day Processing when you do not have enough money in your Account.

  • Please know that Overdraft Fees, Returned Item Fees, and the $8 Daily Overdraft Fee apply to your Account even if you request No Coverage for your Account.

  • A Daily Overdraft Fee of $8 will be assessed each Business Day the Account has an overdrawn Current Balance for up to fourteen (14) Business Days.How Daily Overdraft Fees are AssessedFor Accounts both in the Program and Accounts with No Coverage, an $8 Daily Overdraft Fee may be assessed to Accounts with any overdrawn Current Balance.

  • Items may also be returned if we have placed a Hold on a deposit which results in your Account not having enough money to pay the Item during our End of Day Processing.Overdraft Fees GenerallyIn general, we charge two types of Overdraft Fees: a $36 per Item Overdraft Fee and an $8 Daily Overdraft Fee.

  • During our End of Day Processing, if we pay Item(s) using your Business Overdraft Honor Limit that result in your Account being overdrawn by less than $4, the Bank will not assess a $36 Overdraft Fee for the Item(s), however, the Daily Overdraft Fee and Returned Item Fee may still apply in these instances.

  • We limit the number of $36 fees to three (3) per day.• Also, for each day the account remains overdrawn, we will charge an additional $7 Daily Overdraft Fee per day starting on the seventh (7th) consecutive business day of the overdraft.

Related to Daily Overdraft Fee

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d). [Signature page follows.]

  • Applicable Facility Fee means the percentage set forth in the table below corresponding to the Level at which the “Applicable Margin” is determined in accordance with the definition thereof: Level Facility Fee 2 0.125% 3 0.150% 4 0.200% 5 0.250%

  • Facility Fee has the meaning specified in Section 2.09(a).

  • Unused Facility Fee has the meaning specified in Section 2.09(a).

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Unused Line Fee has the meaning specified in Section 2.5.

  • Facility Fees has the meaning provided in Section 2.11(a).

  • Unused Amount means the Maximum Line reduced by outstanding Revolving Advances. The Borrower agrees to pay to the Lender an unused line fee at the rate of one-half of one percent (0.5%) per annum on the average daily Unused Amount from the date of this Agreement to and including the Termination Date, due and payable monthly in arrears on the first day of the month and on the Termination Date.

  • Unused Commitment Fee has the meaning specified in Section 2.12(a) (Fees).

  • Revolving Line is an Advance or Advances in an amount equal to Ten Million Dollars ($10,000,000).

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Cash Advance Fees means cash advance transaction fees and cash advance late fees, if any, as specified in any Account Agreement applicable to an Account.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Cash Advance Fee means a cash advance fee or similar fee that is charged to an Account under the related Credit Card Agreement.

  • Drawing Fee means, with respect to each Draft drawn by TCCI and purchased by any Person on any Drawing Date and subject to the provisions of Section 2.15, an amount equal to the product of (i) the Applicable Rate times the aggregate Face Amount of the Draft, multiplied by (ii) a fraction the numerator of which is the number of days in the term to maturity of such Draft and the denominator of which is 365 or 366, as applicable.

  • Unused Fee has the meaning specified in Section 2.09(a).

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Breakage Costs shall have the meaning set forth in Section 2.2.3(h) hereof.

  • Maximum Swingline Amount means $5,000,000.

  • Commitment Fees has the meaning set forth in Section 2.11(a).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Prepayment Fee is, with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to:

  • Swing Line Rate means, (a) in respect of Swing Line Loans made in US Dollars or any Alternate Currency other than Canadian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in the relevant currency for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas London to major banks in the London or other offshore interbank market for such currency at their request at approximately 11:00 a.m. (London time) on the first day of such Swing Line Loan and (ii) the Applicable Rate, (b) in the case of Swing Line Loans made in Canadian Dollars, the sum of (i) the Canadian Prime Rate and (ii) the Applicable Rate and (c) in the case of Swing Line Loans made in Australian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in Australian Dollars for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas, Sydney Branch to major banks in Sydney at their request at approximately 11:00 a.m. (Sydney time) on the first day of such Swing Line Loan and (ii) the Applicable Rate.

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).