Common use of Balance Methods Clause in Contracts

Balance Methods. As used in this Agreement, the “daily balance” method means “the application of a daily periodic rate to the full amount of principal in the account each day.” FEES AND CHARGES. Subject to applicable law, you agree to pay us the fees and charges shown in the Rate and Fee Schedule as are applicable to your Account or for other services performed by us. You agree the fees and charges may be changed by us from time to time and authorize us to charge your account for their payment whether or not each charge results in an overdraft of your account. Existing and future charges may be based upon the overall costs of providing account services and may or may not be based upon the direct cost or expense associated with providing the particular service involved. The charges may be based on consideration of profit, competitive position, deterrence of misuse of account privileges by customers, and the safety and soundness of the financial institution. We will notify you of the changes, to the extent required by law. ATM Fees. When you use an ATM, you may be charged a fee by the ATM operator (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer). Refer to the Rate and Fee Schedule in this Agreement for complete ATM fee information.