Overdraft Service definition

Overdraft Service means a service under which a financial institution assesses a fee or charge on a consumer’s account held by the institution for paying an ATM or one-time debt card transaction when the consumer has insufficient or unavailable funds in the account.
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Overdraft Service means (i) the supply of water from the System, to the extent and from time to time available, in excess of aggregate Uninterruptible Service, for certain, interim, interruptible, non-guaranteed uses which a System Water Purchaser is authorized to withdraw pursuant to a Contract or (ii) such other definition as is set forth in the Rate Schedule.
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Overdraft Service means a service under which a savings association charges a fee for paying a transaction (including a check or other item) that overdraws an account. The term overdraft service does not include any payment of overdrafts pursuant to:
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Examples of Overdraft Service in a sentence

  • The overdrawn amount in your Account plus any fee(s) are due and payable upon demand.Optional Overdraft Service for Debit Card Transactions is a noncontractual service available to individually and jointly owned Accounts in good standing.

  • If the balance in your account is not sufficient to pay the transaction amount, the Credit Union may treat the transaction as an overdraft request pursuant to the Overdraft Service or may terminate all services under the Agreement.

  • Under the Overdraft Service, we are not obligated to pay any check or item presented for payment if your account does not contain sufficient funds.

  • We will look first to this service for overdraft protection before applying our discretionary Courtesy Pay Overdraft Service when your account is overdrawn.

  • Optional Overdraft Service for Debit Card Transactions is a noncontractual service available to individually and jointly owned Accounts in good standing.

  • The Credit Union offers the Overdraft Service to eligible consumer checking account owners who qualify.

  • We offer the Overdraft Service as a service and convenience to members for incidental overdrafts.

  • We are not obligated to honor and pay any item or transaction presented for payment if your Account does not contain a sufficient Available Balance and we may only honor and pay an item or transaction presented for payment if your Account is covered by Optional NSF Service for Deposit Accounts, Optional Overdraft Service for Debit Card Transactions, or by the Available Balance of any linked account (NSF/Overdraft Protection Linked Account Option).

  • You may opt out of the Overdraft Service at any time by notifying us verbally or in writing.

  • The Overdraft Service will be provided under the following terms and conditions.


More Definitions of Overdraft Service

Overdraft Service means a service under which a financial institution assesses a fee or charge on a consumer’s account held by the institution for paying a transaction
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Related to Overdraft Service

  • Overdraft means any payment or transfer of funds on behalf of a Fund or series of a Fund for which there are, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of such Fund or series thereof.

  • Overdraft Rate means the per annum rate of interest, regardless of compounding frequency, designated by the Financial Institution as its “Overdraft Rate” from time to time.

  • Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • Telephone Banking Service or “TBS” means any banking service operated over the telephone (by whatever name it may be known as) offered by the Bank, in connection with the Service Instructions and includes but is not limited to such services respectively known as Self Service Phone Banking and CitiPhone Banking; and

  • Cash Management Services means any cash management or related services including treasury, depository, return items, overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network, automatic clearing house transfer (including the Automated Clearing House processing of electronic funds transfers through the direct Federal Reserve Fedline system) and other customary cash management arrangements.

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • Current service means the number of years and months of employment as an

  • payment service means any business activity set out in Annex I;

  • Banking Services Reserves means all Reserves which the Administrative Agent from time to time establishes in its Permitted Discretion for Banking Services then provided or outstanding.

  • Banking Services Provider means any Lender or Affiliate of a Lender that provides Banking Services to any Credit Party.

  • Cash Management System shall have the meaning assigned to such term in Section 9.01.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • financial service means a service of a financial nature, including insurance, and a service incidental or auxiliary to a service of a financial nature;

  • Cash Management Systems has the meaning ascribed to it in Section 1.8.

  • Settlement Service as defined in Subsection 11.6(b).

  • Cash Management Obligations means obligations owed by the Company or any Subsidiary to any Lender or a Cash Management Bank in respect of (1) any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds and (2) the Company’s or any Subsidiary’s participation in commercial (or purchasing) card programs at the Lender or any Affiliate (“card obligations”).

  • Banking Services means each and any of the following bank services provided to the Borrower or any Subsidiary by any Lender or any of its Affiliates: (a) credit cards for commercial customers (including, without limitation, commercial credit cards and purchasing cards), (b) stored value cards and (c) treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services).

  • account information service means an online service to provide consolidated information on one or more payment accounts held by the payment service user with either another payment service provider or with more than one payment service provider;

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Cash Management Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person under or in respect of a Cash Management Agreement.

  • Treasury Management Obligations means obligations under any agreement governing the provision of treasury or cash management services, including deposit accounts, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services. Treasury Management Obligations shall not constitute Indebtedness.

  • ACH means automated clearing house transfers.

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Credit Risk Management Fee The amount payable to the Credit Risk Manager on each Distribution Date as compensation for all services rendered by it in the exercise and performance of any and all powers and duties of the Credit Risk Manager under the Credit Risk Management Agreements, which amount shall equal one twelfth of the product of (i) the Credit Risk Management Fee Rate multiplied by (ii) the Stated Principal Balance of the Mortgage Loans and any related REO Properties as of the first day of the related Due Period.