Overdraft Fees definition

Overdraft Fees means the fee that Defendant charges when a third party submits an item in an attempt to collect on a check (including an electronic check) or ACH item and the Defendant pays the check or item, despite the fact that the member’s account had an insufficient balance to cover the amount of the check or item.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Overdraft Fees means fees resulting from the processing of a debit transaction that exceeds a customer’s account balance.

Overdraft Fees means fees assessed against a member’s checking account when that account does not have sufficient funds at the time a transaction is presented for payment that was not reversed. (Agreement § 1(u).)

Examples of Overdraft Fees in a sentence

The order in which Items are paid is important because it may result in Overdraft Fees or Non-Sufficient Funds (NSF) Fees if you do not have sufficient funds available in your Account to pay the Items.
You should be aware that, except in the case of debit card transactions, the order in which we post Debits to your account may increase the Overdraft Fees or Return Item Fees you have to pay if your Available Balance is not enough to pay the Debit when it is posted to your account.
Insufficient Funds, Uncollected Funds or Returned Item (“NSF”) Fee, and Overdraft Fees 6 6.
The Settlement Administrator shall divide the total amount of the Net Settlement Fund by the total amount of all Settlement Class Members’ Relevant Overdraft Fees.
The Net Settlement Fund will be allocated pro rata to the Settlement Class Members based on their number of Relevant Overdraft Fees.
Those Settlement Class Members who, according to the data provided to Plaintiffs’ expert, were assessed one or more Eligible TD Available Balance Consumer Overdraft Fees and whose Personal Accounts were closed with $75.00 or more owed to TD Bank for Overdraft Fees, other TD Bank fees, and overdrafts the Bank paid but for which the Bank was not reimbursed, may be entitled to be credited with a portion of the Overdraft Forgiveness Amount.
This fee is separate from and may be charged in addition to NSF Returned Item and Overdraft Fees which are charged on no more than 5 NSF items each day ("Daily Limit").
Overdraft Fees: Fees may apply to overdrafts created by check, in-person withdrawals, ATM withdrawals, or other electronic means.
To the extent the portion of the Net Settlement Fund allocated to the TD Available Balance Consumer Class is not sufficient to make full payment for all Eligible TD Available Balance Consumer Overdraft Fees assessed to Settlement Class Members who submit timely and valid claims, it shall be distributed on a pro rata basis.
We will also not charge this fee if: NSF, Overdraft and Sustained Overdraft Fees - Any time your account (including any coverage under an overdraft protection service) does not contain sufficient available funds to pay items presented to us for payment, we will charge a fee to your account for each NSF item presented, even if we do not pay those items.

More Definitions of Overdraft Fees

Overdraft Fees are paid item fees that ▇▇▇▇▇▇▇ charged customers when the Available Balance in the customer’s account was insufficient to fully cover the amount of the customer’s transaction but ▇▇▇▇▇▇▇ paid the item.

Overdraft Fees. If your account becomes overdrawn, you may be charged a fee, as listed in our fee schedule. The overdraft fee applies to overdrafts created by check, in- person withdrawal, ATM withdrawal, or other electronic means. Stop Payment Order Request. You may request a stop payment order on any item payable from your account (ACH transactions, checks, and share drafts) on your account. To be binding an order must be dated, signed, and describe the account and item number and the exact amount. The stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order and you state the number of the account, number of the item, and its exact amount. For ACH transactions, we must receive a written request at least three (3) business days preceding the scheduled date of the ACH transaction. You understand that the exact information is necessary for the Credit Union to identify the item. If you give us incorrect or incomplete information, we will not be responsible for failing to stop payment on the item/s. If the stop payment order is not received in time for us to act upon the order, we will not be liable to you or to any other party for payment of the item. In addition, we may request a copy of your written cancellation notice to revoke an ACH transaction with the receiver. If we re-credit your account after paying a item over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer to us all of your rights against the payee or other holders of the item and to assist us in any legal action. -Duration of Order. You may make an oral stop payment order, which will lapse within fourteen (14) calendar days unless confirmed in writing within that time. A written stop payment order is in effect until all entries that have been listed on the stop payment order have stopped. -Liability. Fees for stop payment orders are set forth on the Fee Schedule. You may not stop payment on any certified check, cashier's check, teller's check, or any other check, draft, or payment guaranteed by us. Although payment of an item may be stopped, you may remain liable to any item holder, including us. You agree to indemnify and hold the Credit Union harmless from all costs, including attorney's fees, damages or claims related to our refusing payment of an item, including claims of any multiple party account owner, payee, or endorsee in failing to stop payment of an item as a result ...

Overdraft Fees. The credit union will disclose the monthly and yearly total dollar aggregate fees and charges, for paying checks and returning items unpaid, for the statement period and calendar year-to-date. This includes interest charges, daily or other periodic fees, or fees charged for maintain and account in overdraft status. The aggregate fee total does not include fees for transferring funds from another member account to avoid an overdraft, or fees charged under a service subject to Regulation Z. The credit union may use terminology such as “returned item fee” or “NSF fee” to describe the fees for returning items unpaid.

Overdraft Fees means the APPSN Fee(s) that Members charged on certain Point of Sale debit card transactions where there was a sufficient available balance at the time the transaction was authorized, but an insufficient available balance at the time the transaction was presented to Members for payment and posted to a customer’s account.

Overdraft Fees are paid item fees that Landmark Bank charged customers when the Available Balance in the customer’s account was insufficient to fully cover the amount of the customer’s transaction but Landmark Bank paid the item.