Negative Account Balances. If your BANEKS Account balance becomes negative for any reason, including on account of reversal or chargeback, that negative balance represents an amount you owe to BANEKS and you promise to repay the negative balance immediately without any notice from us. BANEKS may deduct amounts owed from money you upload or money you receive into your BANEKS Account. If you manage your balance in your BANEKS Account in multiple currencies, and the balance in one of the currencies becomes negative for any reason, BANEKS may set off the negative balance by using value you maintain in a different currency. BANEKS will perform a currency conversion to do this, which will be subject to the exchange rate being offered by BANEKS in the applicable currencies at that time. We may send you reminders or take such other reasonable actions to recover the negative balance from you, for example, we may use a debt collection service or take further legal actions. In order to recover negative account balances from you, we may convert the amount you owe us into Canadian dollars.
Negative Account Balances. We pay Overdrafts at our discretion, which means we do not guarantee that we will always authorize or pay any type of transaction. Even if we have paid Overdraft transactions before, we are not required to do so in the future. In the event you have not opted into overdraft coverage for your Account (discussed below), and we honor a transaction that results in an Overdraft, you agree to repay such Overdraft within thirty (30) days along with any fees that apply. We may report you to consumer reporting agencies, close your Account, or both, if you fail to repay the Overdraft. This could affect your ability to open accounts or obtain other products with us or other banks in the future. You authorize us to deduct the amount owed and resulting fees from any subsequent deposits to your Account (including but not limited to a direct deposit of Social Security or any other state or federal benefit payment) and to offset and deduct such amounts from any other account you may have with SoFi. While your Account has a negative balance, SoFi Bank will not honor any debit or other outgoing transactions, including any Bill Pay Payments, ATM withdrawals, outgoing P2P Transfers or similar transactions related to your Account. SoFi Bank will continue to honor all credit transactions, including deposits and incoming P2P Transfers. In the event a payment in excess of the negative balance isn’t received within thirty (30) days after an Overdraft occurs, SoFi Bank reserves the right to close your Account in accordance with the procedures set forth herein. You agree to pay all costs and expenses we incur in collecting any Overdraft. We may pursue collection of the amount you owe (including suing you) after it is charged off.
Negative Account Balances. Negative balances are not authorized under any circumstance. You must not undertake or attempt to undertake Card Transactions that exceed the amount of funds available in your Account. If any purchase takes you over your available funds or the limits described in your then effective Deposit Account Agreement the transaction will be declined. If for some reason the amount available in your Account becomes negative, you are responsible for the immediate replenishment of your Account and you hereby authorize Ando to collect negative balances from you. Bank may prompt you to replenish your Account if you incur a negative balance for any reason. Bank will also require you to replenish your account before you can be authorized to use your Account according to the terms of the Deposit Account Agreement. Bank may offset a negative balance, in full or in part, with funds received by you, and/or collect the negative balance from you when you initiate a Transaction. If you overdraw your Account, you must deposit the amount of any overdrafts. For preauthorized recurring payments using a Card, Bank has the right to 1) authorize and pay overdrafts, or 2) decline overdrafts. You must repay immediately any overdrafts. For additional information about overdrafts, please see your Consumer Deposit Account Agreement.
Negative Account Balances. In the event the Escrow Account becomes negative due to payment reversals, chargebacks, unauthorized charges, Subscription Refunds, or any other reason, Intermediary shall coordinate with Issuer to make a deposit into Escrow Account an amount that will bring the account to a positive balance. Escrow bank may reserve the right to return items on transactions resulting in a negative escrow account balance. In the event an Escrow Account’s balance remains negative after five (5) business days from the date of written notice to Intermediary of the negative account balance, Escrow Bank may close the escrow account.
Negative Account Balances. In the event we honor a transaction that results in a negative balance in your Account, you agree to repay such negative balance within thirty (30) days. You agree that we may deduct the amounts expended on your behalf from your Account. In the event there are insufficient funds to cover the shortfall, you agree to promptly deposit an amount equal to such shortfall after receipt of notice from SoFi Securities about the negative balance. SoFi Securities reserves the right to not honor any debits or outgoing transactions from an overdrawn Account until it has a positive balance. Other than as stated in Section VI(D)(3) above, while your Account has a negative balance, SoFi Securities will not honor any debit or other outgoing transactions, including any Bill Pay Payments, ATM withdrawals, outgoing P2P Transfers or similar transactions related to your Account. SoFi Securities will continue to honor all credit transactions, including deposits and incoming P2P Transfers; and Free Credit Balances will continue to be swept to Program Banks in accordance with the terms of the SoFi Money Sweep Program. In the event a payment in excess of the negative balance isn’t received within a reasonable time after the initial thirty (30) days, as determined by SoFi Securities in our sole discretion, we reserve the right to close and terminate your Account in accordance with the procedures set forth in Section XVIII.
Negative Account Balances. If you instruct a deposit to or withdrawal from the Program that results in a negative balance in your Checking Account, you agree to promptly deposit an amount equal to such shortfall after receipt of notice about the negative balance. UMB reserves the right not to honor any deposits to or withdrawals from the Program from your Checking Account while it has a negative balance. If a payment in the amount of the negative balance is not received within a reasonable time, as UMB determines in its sole discretion, UMB reserves the right to close and terminate your Customer Account in accordance with the procedures set forth in this Agreement.
