Overdraft means any payment or transfer of funds on behalf of a Fund or series of a Fund for which there are, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of such Fund or series thereof.
Overdraft means a negative Available Balance.
Overdraft means any Liabilities that result in the Transfer Accounts being overdrawn.
Examples of Overdraft in a sentence
If a Client defaults in the payment of an invoice, then regardless of whether a demand for payment is made, the amount outstanding will bear simple interest at the rate of interest being 3% higher than the Commonwealth Bank’s Corporate Overdraft Reference Rate from time to time, calculated on a daily basis from the due date to the date of actual payment in full.
With this Overdraft Privilege, we will pay your non-sufficient funds (NSF) items and fees up to a preapproved limit.
When there are insufficient funds in a checking account to cover a purchase and overdraft protection is triggered, funds to cover the shortfall will come from available funds as the member elects: (1) Savings (2) Line of Credit if applicable – (up to the maximum limit of the loan) (3) Mastercard credit card if applicable (up to the maximum limit of the loan) or (4) Overdraft Privilege if applicable.
The credit union’s forbearance from, or delay in, exercising any of the credit union’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, the Overdraft Privilege agreement, or any other agreements related to your account, shall not be construed to be a current or future waiver of the credit union’s rights, remedies or privileges.
As a benefit to our members, we offer a useful feature on our Checking accounts - an Overdraft Privilege.
More Definitions of Overdraft
Overdraft means the available balance in your account is insufficient to pay for a transaction at the time the transaction is presented to MSUFCU for payment. Should an overdraft occur and you have overdraft protection, then we may honor the transaction and transfer the amount of the overdraft from your other share accounts or, if applicable, a line of credit, Visa Credit Card and/or home equity plan up to your approved limit. Transfers from your savings account(s), will be made in increments of $100.00 and deposited to your checking account to cover an overdraft. If funds are not available from these sources, then we may decline to authorize or pay for the transaction, or we may pay it using our Courtesy Pay or Courtesy Pay for Debit services. Courtesy Pay applies when MSUFCU pays overdraft checks, Automatic Clearing House (ACH) transactions, recurring debit card transactions, and xxxx pay transactions. Courtesy Pay for Debit applies when we pay overdraft everyday debit card transactions. Subject to certain conditions and limitations, which are described below, Courtesy Pay will automatically apply to your checking account. You may request to remove Courtesy Pay from your account at any time. However, you must affirmatively consent before Courtesy Pay for Debit will apply to your account. Without your consent, we may not authorize everyday debit card transactions when there is insufficient available balance in your account and the transactions will be declined. If we pay an overdraft transaction, then we will charge you an Overdraft Fee as provided in MSUFCU’s current Service Fee Schedule. If we decline to pay an overdraft transaction, such as when a check or ACH payment is returned unpaid, then we will charge a Non-Sufficient Funds (NSF) fee. Note: Transactions that are declined may be presented to MSUFCU for payment multiple times until paid. You may be charged an Overdraft Fee or NSF fee each time the transaction is presented for payment, even if the transaction was previously declined and a fee was previously charged. We do not determine whether and when a transaction will be presented or submitted for payment. The following is important information regarding your account balances, how transactions are posted to your account, and when an Overdraft or NSF fee will be charged.
Overdraft means a negative balance in your account that results when the available funds in your account are less than the amount of any Item(s) that are presented for payment and paid by the Bank.
Overdraft means you have taken more money from your Account than you have in it and can also mean the amount of money which you owe us as a result of doing that. The words “overdraw”, “overdrawn” and “overdrawing” refer to the act of causing an overdraft.
Overdraft means a negative balance in the INSURED’S trust account to the extent directly caused by a COUNTERFEIT CERTIFIED CHEQUE(S) OR COUNTERFEIT BANK DRAFT(S).
Overdraft means the prior five year (2015-2019) average amount of water consumed prior to SGMA implementation beyond the Sustainable Yield within the Greater Tule Management Area.
Overdraft means there is not enough available balance in your account to pay for an order. Your account has two kinds of balances: the “actual” balance and the “available” balance. Both can be checked when you review your account through eBranch, Mobile Banking, at an ATM, by phone, or at a branch. It is important to know how the two balances differ so you understand when an overdraft fee will be assessed. Your “actual” balance is the total amount of funds in your account, without considering any deposit holds or preauthorization holds. Your “available” balance is the amount of funds in your account that are available to you to use without incurring an overdraft fee. The available balance does not include deposits before they are fully credited to your account and pending orders (such as pending debit card purchases) that have been authorized but that have not yet posted to your account. For example, if you purchase gas at a gas station using your debit card, a merchant may seek authorization of the transaction before you complete your purchase. In this case, a temporary authorization hold may be placed against the available funds in your account, but the actual purchase amount may not be posted to your account until one or more days after the temporary authorization hold was placed. This results in an available balance that is less than the actual balance for the period of time between the authorization and the posting of the debit. For purposes of determining whether your account is overdrawn, we will determine your available balance at the time an order is presented for payment. For checks, ACH, and electronic bill payments, we will determine your available balance at the time these items are presented to us for payment. For debit card PIN transactions and ATM transactions, we will determine your available balance at the time of the transaction. For debit card signature transactions, we will determine your available balance when the merchant presents the order for payment, even if there were sufficient available funds at the time the debit card was presented to the merchant. In addition, it is very important to understand that you may overdraw your account even though the available balance or actual balance appears to show that there are sufficient funds to cover an order that you want to make. To accurately assess your available and actual balance at any given time, it is very important that you keep an accurate running balance of all your transactions. In all c...
Overdraft means a facility that allows You to spend more money from Your Account than You have in it;