Overdrawn Accounts Clause Examples

Overdrawn Accounts. 16.1 Unless the Bank has approved credit facilities, no payment, transfer or Transaction will be carried out if the funds held in the Account (together with any available credit facilities) that are required to carry out the same are insufficient and the Bank shall not be liable for any consequences resulting from delay in or non- implementation thereof. 16.2 Notwithstanding clause A16.1 above, auto-debits drawn on the Account may be paid notwithstanding that there may be insufficient funds in the Account to meet the payments. 16.3 The Bank will consider an Account to be overdrawn if it is overdrawn at the end of a Business Day. Interest and charges in accordance with the Bank Charges Schedule shall be payable on the amount overdrawn unless otherwise stipulated by the Bank.

Overdrawn Accounts. 9.1 Should your account become overdrawn then you will be in breach of this Agreement. The overdrawn amount will be immediately payable by you to us, without demand having to be made and we may levy interest on the overdrawn amount at the rate prescribed by the Prescribed Rate of Interest Act No. 55 of 1975 (“xxxx interest“) from the date that the account becomes overdrawn to date of payment. 9.2 In the event that your account becomes overdrawn you hereby authorise us to: 9.2.1 set off any amount owed to us under this Agreement against any amount owed to you; 9.2.2 from time to time debit any account that you hold with us or Our Affiliates in respect of these fees; 9.2.3 from time to time sell all or a portion of your Financial Products or Krugerrands in order to settle any debt owed to us by you, on the terms and conditions as contained in the Cession and Pledge clause below; and 9.3 you understand the rules applicable to overdrawn accounts set out in this Agreement.

Overdrawn Accounts. You agree to repay any overdrawn account balance immediately. If you fail to return your balance to a positive status by the 10th calendar day from the day your account first became negative, you authorize Mission Fed to (1) advance funds from any existing Line of Credit and/or Credit Card loans, or (2) transfer funds from any of your share accounts excluding individual retirement accounts. If any overdraft remains unpaid, Mission Fed may take collection action against you. You agree to repay any costs of collection, including attorneys’ fees. Accounts with unpaid negative balances will be closed without notice and reported to consumer reporting agencies. Refer to Security Interest/Statutory Lien in the Account Agreement and Disclosures for additional information.

Overdrawn Accounts. If the said Account shall become overdrawn, The Bank will impose the related charges. These charges may be changed from time to time at the bank’s discretion. The Bank shall not be bound to notify me in advance of any change in the rate of interest but on receipt of a written request from me, The Bank shall be obliged to specify the rate of interest being charged at the time of such request.

Overdrawn Accounts. If your account becomes overdrawn (whether the Bank is unable to collect a deposit you have made to your account, because the Bank intentionally or unintentionally posts a check or other payment, or you have insufficient funds or for any other reason), in addition to paying any applicable Bank fees or charges, you agree to pay the Bank the amount of the overdraft. If you do not have sufficient available funds on deposit in your account at the time a check or other payment is presented for a transfer from your account, or any other transaction is posted to your account or received by us, the Bank may return the check or other payment unpaid or otherwise reject the transaction. The Bank has no liability to you for rejecting some checks or other payments from your account while we continue to pay others, or for otherwise processing a transaction when your account is overdrawn, even if the check or other payment that we choose to pay is payable to us; or your account is overdrawn due to our Bank charges. Each account owner is jointly and severally responsible for paying all overdraft amounts created by any authorized users, regardless of whether the account owner authorized the check or other payment or received any benefit from the check or other payment. You agree that we may, to the maximum extent permitted by law, apply deposits (including Social Security, SSI, and similar benefits) to overdrafts and overdraft fees or other Bank fees and charges, without notice to or further specific consent from you. If the Bank pays a check or other payment, cashes a check for you, or processes a transaction, and the amount we pay or process is more than the available balance in the account on which it is drawn, we may hold balances in other accounts of yours, up to the amount we have paid until we have received final payment for the check we paid or the transaction we processed. You agree to comply with all laws, rules, and regulations applicable to you, to your business activities and to your use of our banking services. This includes your agreement to comply with (to the extent applicable to you and your actions) federal anti-money laundering laws, sanctions laws administered by the Office of Foreign Assets Control, currency transaction or Bank Secrecy Act reporting and recordkeeping requirements, and any state counterpart of the same. You must inform the Bank about and disclose to us the identity of all persons who have a beneficial interest in you (if you are a non-...

Overdrawn Accounts. We do not allow your Account to be overdrawn. As such, we will not authorize or allow any Card Transaction that would result in your Account being overdrawn and/or Spend Limit being exceeded as a consequence and we are not liable for any loss that you or any other third party may incur as a result of this.

Overdrawn Accounts. If your account is overdrawn, the first $225 that is made available includes the amount to cover the overdrawn balance. Endorsements. Endorsements must be placed in the space on the back of the check between the top edge and 1-1/2 inches from the top edge. The Credit Union may accept checks with endorsements outside this space. However, if any such endorsement or any other markings you or any prior endorser has made on the check cause any xx-xxx or error in processing the item for payment, you will be responsible for any loss incurred by the Credit Union due to the delay or error. THIS IS YOUR ELECTRONIC SERVICES AGREEMENT AND DISCLOSURE. IT INCLUDES NECESSARY FEDERAL STATEMENTS AS REQUIRED BY THE ELECTRONIC FUND TRANSFER ACT (15 U.S.C. SECTION 1693 ET SEQ) AND REGULATION E (12 CFR 205 ET SEQ).

Overdrawn Accounts. The account must not be overdrawn. This means the Account Holder may not spend more money than it has in the account. For the purposes of this agreement this means the credit balance must be sufficient taking into account the required amount of un-cleared funds deposited into that account and the amount of funds in the account that are reserved for other purposes. (Note: that any funds reserved for payment terminal transactions will only be deducted from the transactional account when the merchant successfully banks transaction with their bank. Until this happens it is your responsibility to monitor the transactional account, and not to use those reserved funds). You and/or the Account Holder may not request or apply for credit by instructing FNB to process a payment instruction where there is no available balance in the transactional account. FNB will not carry out payment instructions if there is no available balance in the transactional account. FNB will decline this transaction and charge a fee for the declined transaction (unpaid item fee). To see what fees and charges apply see FNB’s pricing guide at xxx.xxx.xx.xx.

Overdrawn Accounts. Overdrafts are not permitted on any of your Accounts. We may, in our discretion, process a transaction and charge service charges to any of your Accounts, even if it creates or increases an unauthorized overdraft. Even if we do so, it will not be permission for you to maintain or have any future unauthorized overdrafts on the Accounts. You agree to pay to PBC the over- draft amount. Overdraft amounts are immediately due and payable to us without need for demand. You must pay the overdraft amount to us immediately if we make demand. If you are granted overdraft privileges on any of the Accounts, you will not conduct or try to conduct any transaction that would result in any additional overdraft. You will pay PBC interest on any overdraft amount at the higher rate of 21% per annum compounded monthly (an effective annual rate of 23.144%), or PBC prime, plus 5%, per year, compounded monthly, up to the maximum effective annual interest rate permissible by law. Any overdraft shall be repayable on demand.