Overdraft Privilege refer to the Overdraft Privilege disclosure provided to you at the time of your checking account is established, or contact us in writing at P.O. Box 2477 Brea, CA 00000-0000, by telephone at 000.000.0000, or by emailing us at xxxxxxxxx@xxxxxxxxx.xxx Overdrafts which cannot be honored are payable on demand and may result in termination of your account(s). Electronic check conversion and similar transactions - An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions, the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the check to examine the signatures on the item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures. BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS – Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity. STOP PAYMENTS - Unless otherwise provided, the rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules. We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in wr...
Overdraft Privilege. You agree that if, pursuant to any overdraft privilege on a Credit Union Share Draft Account, there is an overdraft of Your Share Draft Account, the amount of overdraft will be added to the outstanding balance on Your Visa Credit Card Account, subject to the finance charge provisions set forth in “INTEREST AND FINANCE CHARGES” as described for cash advances, and will be subject to all terms and conditions of this Agreement. The Visa Credit Card Account must be current and not over the credit limit for funds to transfer to the Share Draft Account. Overdrafts are not allowed for the purpose of making loan payments, including Visa Credit Card payments, at the Credit Union, ATM or in-branch teller cash withdrawals. The Share Draft Account referred to herein is also subject to a separate agreement between You and the Credit Union. Where the terms of any other agreement between You and the Credit Union conflict with the terms of this Agreement, the terms of this Agreement will control.
Overdraft Privilege. Overdraft Privilege is a service we add to your checking account to cover overdrafts to a set limit, subject to the eligibility criteria as explained below. While we reserve the right to unilaterally refuse to pay any item that is presented, with Overdraft Privilege we will generally pay your overdraft items up to $800. When we pay overdraft items for you, you will be charged our normal overdraft fee, currently $35.00, for each item that is presented. Both the amount of the overdraft items and all applicable fees, including but not limited to the$35.00 overdraft fees, are included in this limit. A fee of $5.00 per day "daily overdraft fee" will be imposed if an account is overdrawn for 10 consecutive days. Typically, this "daily overdraft fee" is for the tenth (10) and each subsequent consecutive business day your account is overdrawn and continues to have a negative balance. We will not impose the overdraft fee for any item that when paid into overdraft creates an overdraft balance in the account of $5.00 or less. Eligibility Criteria - No application is required for the Overdraft Privilege; eligibility is based on the following: • Eligible account has been open for at least thirty (30) days and thereafter you maintain your • account in good standing • Continuing to make deposits consistent with your past practices, and depositing at least $400 or • more in your account within each thirty (30) day period • You are not in default on any loan obligation to us • We reserve the right to require you to pay your outstanding overdraft (negative) • balance, including our fees, immediately or on demand • Your account is not the subject of any legal or administrative order or levy, such as • bankruptcy or a tax lien Eligible Account Types - The account types that are eligible for Overdraft Privilege are: • NOW Checking • Senior NOW Checking • Small Business Checking • Business NOW Checking Accounts and Limitations – • Money Market Accounts • Public Fund/Charitable Organization Accounts • Certain Trust Accounts • Minor Accounts • Savings Type Accounts We may, in our sole option and discretion, limit the number of accounts eligible for Overdraft Privilege to one account per household and/or one account per taxpayer identification number.
Overdraft Privilege. You agree that if, pursuant to any overdraft privilege on a Credit Union Share Draft Account that you have agreed to, there is an overdraft of Your Share Draft Account, the amount of overdraft will be added to the outstanding balance on Your Visa Credit Card Account, subject to the interest charge provisions set forth Section 10 as described for cash advances, and will be subject to all terms and conditions of this Agreement. The Visa Credit Card Account must be current and not over the credit limit for funds to transfer to the Share Draft Account. Overdrafts are not allowed for the pur- pose of making loan payments, including Visa Credit Card payments, at the Credit Union, ATM or in-branch teller cash withdrawals. The Share Draft Account referred to herein is also subject to a separate agreement between You and the Credit Union. Where the terms of any other agreement between You and the Credit Union conflict with the terms of this Agreement, the terms of this Agreement will control.
Overdraft Privilege. In accordance with our commitment to provide valued service and benefits, we may, if you qualify, at our discretion, pay overdrafts that would cause your eligible Share Draft Account to have a negative balance up to the amount of your limit, which is determined by us in our sole and absolute discretion. Overdraft Privilege is different than the Overdraft Transfer Service. Overdraft Privilege is a backup to the Overdraft Transfer Service and will only be activated if funds are not available from the Overdraft Transfer Service. Note that Overdraft Privilege is not available for business/organizational accounts, minor accounts, or for fiduciary accounts (e.g., trust, escrow, representative payee, guardianship, etc.).
Overdraft Privilege. Overdrafts are paid at the Credit Union’s discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Overdraft privileges eligibility is at the sole discretion of the Credit Union and is based on your managing your checking account in a responsible manner. If we do not authorize and pay an overdraft, your transaction will be declined and the fees will be charged according to the Fee Schedule. All deposits to overdrawn accounts are applied to the negative balance. We can cover your overdrafts in the following ways:
Overdraft Privilege. In accordance with our commitment to provide valued service and benefits, we may, if you qualify, at our discretion, pay overdrafts that would cause your eligible checking account to have a negative balance up to the amount of your limit, which is determined by us in our sole and absolute discretion. Overdraft Privilege is different than the Overdraft Transfer Service. Overdraft Privilege is a backup to the Overdraft Transfer Service and will only be activated if funds are not available from the Overdraft Transfer Service.
Overdraft Privilege. We are not obligated to pay any item presented for payment if your account does not contain sufficient collected funds. Rather than automatically returning, unpaid, any non-sufficient funds items you may have, if your “ eligible account type” has been open for at least 30 days and thereafter you maintain your account in good standing, which includes at least:
Overdraft Privilege. If your Account meets our eligibility standards (based on the length of time your Account has been opened, the type of activity, the type of account and your usage of the Account), under Standard Overdraft Privilege we will consider authorizing and paying overdrafts (for a fee) for the following types of transactions: checks and other transactions made using your checking account number, online bill payments, ACH transactions or automatic/pre-authorized debits. For consumer accounts, unless you have consented to Extended Overdraft Privilege, we generally do not authorize and pay ATM and everyday debit card transactions that would overdraw your Account. With Overdraft Privilege, we pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. For additional information regarding Overdraft Privilege, please refer to our separate disclosure entitled Overdraft Coverage Options.
Overdraft Privilege. An Overdraft Privilege fee will be charged to your checking account, in accordance with our Schedule of service Charges, for each overdraft that is authorized and paid through the Service. This means that more than one Schedule of Service Charges may be assessed against your checking account per day depending upon the number of overdrafts authorized and paid through the Service. You understand that your Overdraft Privilege Limit will be reduced by the amount of each overdraft paid by us through the Service and the amount of the related Overdraft Privilege imposed until such amounts are repaid by you as set forth herein at which time, we may replenish your Overdraft Privilege Limit by the amount of the repayment. If we choose not to pay the item/transaction under the Service, you are subject to NSF Fees for each such item in accordance with our Schedule of Service Charges. Your periodic statement will itemize Overdraft Privilege Fees and NSF Fees for each cycle, as well as the year-to-date total of fees.
