Personal Reserve definition

Personal Reserve means a type of borrowing that we can provide in addition to or, instead of, an arranged overdraft where we make additional Cash Available to you up to a pre-authorised limit to cover payments, for example, when there is insufficient cash in your current account, or a transaction will cause you to exceed your arranged overdraft limit.
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Personal Reserve means a type of borrowing that we can provide in addition to or instead of an overdraft where we make additional Funds Available to you up to a pre-authorised limit to cover payments, for example, when there are insufficient funds in your current Account, or a transaction will cause you to exceed your overdraft limit.
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Personal Reserve means the amount of countable assets held by an individual or household while establishing or maintaining eligibility for medical assistance.
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Examples of Personal Reserve in a sentence

  • Upon our receipt of the applicable Bank form, your checking account can be linked to one of the following: a checking account, savings account, money market account, Personal Reserve Account (PRA), Business Reserve Line (BRL), or a line of credit with us, (each a “linked account”) for the purpose of covering overdrafts that may occur on your checking account.

  • If you have a BankNewport Personal Reserve Credit line, you will be assessed a finance charge on any cash advance made on your credit line as provided in your Personal Reserve Credit Note that you signed when you opened your Personal Reserve Credit.

  • If you use BankNewport’s eBanking Services to withdraw or transfer money from your account, and the withdrawal or transfer creates an overdraft in your account, a loan will be made to you in accordance with your Personal Reserve Credit Agreement to cover the amount of the overdraft, provided that there is sufficient credit available up to Personal Reserve Credit maximum credit limit under your Personal Reserve Credit Note to cover the amount of the overdraft.

  • If you use BankNewport’s Digital Banking Services to withdraw or transfer money from your account, and the withdrawal or transfer creates an overdraft in your account, a loan will be made to you in accordance with your Personal Reserve Credit Agreement to cover the amount of the overdraft, provided that there is sufficient credit available up to Personal Reserve Credit maximum credit limit under your Personal Reserve Credit Note to cover the amount of the overdraft.

  • You could lose all the money in your account plus the maximum available of your Personal Reserve Account or an overdraft protection service.

  • ATM withdrawals and bill payment transactions are subject to the availability of funds in your account, plus the available amount of your Personal Reserve Account (PRA) or your Business Reserve Line (BRL) that may be linked to your account.

  • You could lose all the money in your account plus the maximum available on your Personal Reserve Account or an overdraft protection service.

  • The overdraft charge will not apply when such a payment is made by means of an automatic advance from your Personal Reserve Account or Business Reserve Line, but an overdraft charge will be assessed if payment is made by means of an automatic transfer authorization.