Payment of Overdrafts. If, on any day, the available balance in your share or deposit account is not sufficient to pay the full amount of a check, draft, transaction, or other item, plus any applicable fee, that is posted to your account, we may return the item or pay it, as described below. The Credit Union’s determination of an insufficient available account balance may be made at any time between presentation and the Credit Union’s midnight deadline with only one review of the account required. We do not have to notify you if your account does not have a sufficient available balance in order to pay an item. Your account may be subject to a fee for each item regardless of whether we pay or return the item. We may charge a fee each time an item is submitted or resubmitted for payment; therefore, you may be assessed more than one fee as a result of a returned item and resubmission(s) of the returned item. If we offer standard overdraft services, this service allows us to authorize payment for the following types of transactions regardless of whether your share or deposit account has sufficient funds: (1) share drafts/checks and other transactions made using your checking account, except as otherwise described below; (2) automatic xxxx payments; (3) and ACH transactions. For ATM and one-time debit card transactions, you must affirmatively consent to such coverage. Without your consent, the Credit Union may not authorize and pay an ATM or one-time debit card transaction that will result in insufficient funds in your account. If you have established a service linking your share or deposit account with other individual or joint accounts, you authorize us to transfer funds from another account of yours to cover an insufficient item, including transfers from a share or deposit account, an overdraft line-of-credit account, or other account you so designate. Services and fees for these transactions are shown in the document the Credit Union uses to capture your affirmative consent and the Schedule of Fees and Charges. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay such items that result in an insufficiency of funds in your account, we do not agree to pay them in the future and may discontinue coverage at any time without notice. If we pay these items or impose a fee that results in insufficient funds in your account, you agree to pay the insufficient amount, including the fee assessed by us, in accordance with our standard overdraft services...
Payment of Overdrafts. If, on any day, the available funds in your checking or savings account(s) are not sufficient to pay the full amount of a check, transaction or other items posted to your account plus any applicable fee (“overdraft”), we may pay or return the overdraft. The credit union’s determination of an insufficient available account balance may be made at any time between presentation and the credit union’s midnight deadline with only one (1) review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an overdraft. Your account may be subject to a charge for each overdraft regardless of whether we pay or return the overdraft. If a previously returned item is resubmitted for payment the credit union may charge an additional fee. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay an overdraft, we do not agree to pay overdrafts in the future and may discontinue covering overdrafts at any time without notice. If we pay an overdraft or impose a fee that overdraws your account, you agree to pay the overdrawn amount in accordance with your overdraft protection plan or if you do not have such a plan, in accordance with our overdraft payment policy.
Payment of Overdrafts. If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft, transaction, or other item, plus any applicable fee, that is posted to your account, we may return the item or pay it, as described below. The Credit Union's determination of an insufficient available account balance may be made at any time between presentation and the Credit Union's midnight deadline with only one review of the account required. We do not have to notify you if your account does not have sufficient available funds in order to pay an item. Your account may be subject to a charge for each item regardless of whether we pay or return the item.
Payment of Overdrafts. If, on any day, the available balance in your share or deposit account are not sufficient to pay the full amount of a check, draft, transaction, or other item, plus any applicable fee, that is posted to your account, we may return the item or pay it, as described below. The Credit Union’s determination of an insufficient available account balance may be made at any time between presentation and the Credit Union’s midnight deadline with only one review of the account required. We do not have to notify you if your account does not have sufficient funds available to pay an item. Whether we pay or return the item, your account may be subject to a fee as set forth in the Fee Schedule Disclosure. We may charge a fee each time an item is submitted or resubmitted for payment, causing you to be assessed more than one fee as a result of a returned item and resubmission(s) of the returned item. • Overdraft Transfer from Savings - The Credit Union is authorized to charge payments for approved items against the savings in your account. The Credit Union may pay such approved items to your account in the amount of the resulting overdraft, plus the fee for overdraft transfers from your savings as set forth in the Fee Schedule Disclosure. • How Transactions are Posted to Your Account. Basically, there are two types of transactions that affect your account: credits (deposits of money into your account) and debits (payments out of your account). It is important to understand how each is applied to your account so that you know how much money you have and how much is available to you at any given time. This section explains generally how and when we post transactions to your account. − Credits - Deposits are generally added to your account when we receive them. However, in some cases when you deposit a check, the full amount of the deposit may not be available to you at the time of deposit. Please refer to the Funds Availability Policy Disclosure provided at the time you opened your account for details regarding the timing and availability of funds from deposits. − Debits - There are several types of debit transactions. Common debit transactions are generally described below. Keep in mind that there are many ways transactions are presented for payment by merchants, and we are not necessarily in control of when transactions are received. o Checks - When you write a check, it is processed through the Federal Reserve system. We receive data files of cashed checks from the Federa...
Payment of Overdrafts. 1. The Credit Union Has No Obligation to Pay Your Overdrafts. We are not obligated to pay any item presented for payment if your account does not contain sufficient available funds. If we pay a transaction that overdraws your account, we are not obligated to continue paying such transactions in the future. We may pay all, some, or none of your overdrafts, without notice to you. You are liable to us to repay any overdrafts on your account whether you created them or not. If you do not pay us, and we take collection action against you, you agree to pay for any costs of collection. We may close, without notice, any account with excessive overdraft activity, and report the account to a consumer reporting agency.
Payment of Overdrafts. You are not obligated to pay any item presented for payment if my account does not contain sufficient available funds. If you pay a transaction that overdraws my account, you are not obligated to continue paying such transactions in the future. You may pay all, some, or none of my overdrafts, without notice to me. I am liable to you to repay any overdrafts on my account whether I created them or not. If I do not pay you, and you take collection action against me, I agree to pay for your costs of collection. You may close, without notice, any account with excessive insufficient funds activity, and report the account to a consumer reporting agency. You assess a fee for each item that you either pay, which results in an overdraft, or do not pay, which would have resulted in an overdraft had you paid it. If you pay an item in accordance with your Overdraft Service (described in more detail below), you will charge an Overdraft Service Fee as set forth in the Schedule of Fees. If you return an item, you will charge a Non-sufficient Funds (NSF) Fee as set forth in the Schedule of Fees each time an item is presented for payment and returned unpaid due to insufficient available funds. I will refer to the Schedule of Fees for a listing of fees, which is updated periodically. You limit the number of NSF and Overdraft Service Fees you charge in a business day. If my ending account balance is overdrawn, you will not charge a fee for any transaction that is $5 or less. The maximum number of overdrafts due to insufficient or unavailable funds that will be subject to overdraft charges in one day is six (6), this is not including overdraft transfers. You will charge a Daily Negative Balance Fee as set forth in the Schedule of Fees if my checking account remains overdrawn for more than three (3) consecutive days, beginning on the fourth (4th) calendar day up to a maximum of fourteen (14) consecutive days. You recommend that I apply for in one of the optional overdraft protection plans described below. These plans can help me avoid overdrafts and returned items. While fees apply when I use an optional overdraft protection plan, the fees under the plan are less expensive than NSF and Overdraft Service Fees. I will refer to the “Optional Overdraft Transfer Protection Plans” section below for more information. MY CHECKING ACCOUNT BALANCE. My checking account has two kinds of balances: the “actual” balance and the “available” balance. Both can be checked when I review my account...
Payment of Overdrafts. Maintaining an Available Balance It is your responsibility to make sure that your account contains sufficient available funds at the time you make a withdrawal or transfer, authorize a debit card purchase or other debit transaction of any kind. If you are uncertain of your available balance, please contact us, check your account balance at an ATM, access our Online Banking Service at xxx.XXXXxxx.xxx, or use our Mobile Banking App. If you do not have sufficient available funds on deposit in your account to cover a debit transaction, we may return the item unpaid or, in our discretion, authorize and pay the transaction creating an overdraft. Payments of Overdrafts We are not obligated to pay any item presented for payment against your account if your account does not have sufficient available funds. If we pay a transaction by overdrawing your account, we are not obligated to continue paying such transactions and creating or increasing overdrafts in the future. We may stop paying items which create overdrafts at once without notice to you. You are liable to us to repay immediately any overdrafts on your account whether you created them or not If you do not pay us, and we take collection action against you, you agree to pay for any costs of collection. We may terminate, without notice, any account with excessive insufficient funds activity, and report the account to a consumer-reporting agency. No Overdraft Fees There are no fees associated with each transaction that we either pay, which results in an overdraft, or do not pay (and return unpaid) which would have resulted in an overdraft had we paid it (usually due to insufficient or unavailable funds).
Payment of Overdrafts. 1. We are not obligated to pay any item presented for payment if your account does not contain sufficient available funds. If we pay such a transaction, we are not obligated to continue paying such transactions in the future. We may pay all, some, or none of your overdrafts, without notice to you. You are liable to us to repay any overdrafts on your account whether you created them or not. If you do not pay us, and we take collection action against you, you agree to pay for our costs of collection. We may close, without notice, any account with excessive insufficient funds activity, and report the account to a consumer reporting agency.
Payment of Overdrafts. If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft, transaction, or other item posted to your account plus any applicable fee (“overdraft”), we may pay or return the overdraft. The Credit Union’s determination of an insufficient available account balance may be made at any time between presentation and the Credit Union’s midnight deadline with only one (1) review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an overdraft. Your account may be subject to a charge for each overdraft regardless of whether we pay or return the overdraft. For ATM and one-time debit transactions, you must consent to the Credit Union’s overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the Credit Union may not authorize and pay an overdraft resulting from these types of transactions. Services and fees for overdrafts are shown in the document the Credit Union used to capture the member’s opt- in choice for overdraft protection and the Schedule of Fees and Charges.
Payment of Overdrafts. If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft item, transaction or other item, plus applicable fee, that is posted to your account, we may return the item or post it as described below. Our determination of an insufficient available account balance may be made at any time between presentation and our deadline with only one review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an item. Your account may be subject to a charge for each item regardless of whether we pay or return the item.
