Discretionary Overdraft Privilege Sample Clauses

Discretionary Overdraft Privilege. It is the policy of the Credit Union to comply with all applicable laws and regulations and to conduct business in accordance with applicable safety and soundness standards. The Share Draft Agreement (and all amendments thereto) and its terms shall control any possible conflict, if any, between any provision of this Discretionary Overdraft Privilege Disclosure and the Membership Agreement and Disclosures. The Overdraft Privilege is not a line of credit. However, if you inadvertently overdraw your account, we will have the discretion to pay the overdraft, subject to the limit of your existing Overdraft Privilege limit and the amount of the overdraft fee. The Credit Union is not obligated to pay any item presented for payment if your account does not contain sufficient available funds. Any discretionary payment by the Credit Union of an overdraft check (or item, such as an ATM withdrawal) does not obligate us to pay any other overdraft check (or item), or to provide prior notice of its decision to refuse to pay such check (or item). Pursuant to our commitment to always provide you with the best level of service, now and in the future, if you maintain your account in good standing, including at least:
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Discretionary Overdraft Privilege. Xxxxxx Savings Bank is not obligated to pay any item presented for payment if your account does not contain sufficient available funds. Xxxxxx Savings Bank assesses overdraft fees on the available balance, if the account does not contain sufficient funds to cover the item presented or re-presented for payment. An option is used called Limit fees for authorized Point of Sale (POS) transactions that allows Xxxxxx Savings Bank to consider if an insufficient funds fee should not be assessed at settlement for a Point of Sale (POS) transaction that would not have incurred a fee at the time of authorization. Therefore, avoiding an authorize positive, settle negative (APSN) overdraft fee for a debit card transaction when the available balance showed there were sufficient available funds in the account to pay the transaction at the time, they initiated it. Available Funds is generally the ledger balance plus any deposits that have noy yet cleared but are made available, less any pending (i.e., authorizations but not yet settled) debts. Ledger balance is the account balance that is not reduced by any holds from pending transactions. Notice of discretionary payment or return of any item will not be provided prior to making a decision. Pursuant to Xxxxxx Savings Bank’s commitment to provide you with the highest level of service now and in the future, if you maintain your account in good standing including at least: • Funds in other deposit accounts at Xxxxxx Savings Bank. • History of prompt (within 30 days of insufficient funds occurrence) deposits to cover overdrafts. • You are not subject to any legal or administrative order or levy. Xxxxxx Savings Bank will consider, as a discretionary courtesy and not a right or obligation, approving reasonable overdrafts. Xxxxxx Savings Bank reserves the right to discontinue discretionary courtesy approval of reasonable overdrafts at any time without prior notice. Any and all fees and charges, including without limitation the non-sufficient funds fees as set forth in the “Schedule of Fees and Charges” will be included in the overdraft amount. The total of the discretionary courtesy overdraft negative balance including all non-sufficient funds and all fees and charges is due and payable on demand. Account owners will continue to be liable jointly and severally for all such amounts. Discretionary overdraft privilege and associated non-sufficient funds fees apply to overdrafts created by check, in-person withdrawals, and electronic...
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Discretionary 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. Discretionary Overdraft Privilege is different than the Overdraft Transfer Service. Discretionary 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.
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Related to Discretionary Overdraft Privilege

  • Participant Obligations In partial consideration for the award of these Options, if at any time during the period between the Grant Date and the 12-month period following the Participant’s termination of Employment (the “Obligation Period”), the Participant: (i) directly or indirectly, hires or solicits or arranges for the hiring or solicitation of any employee or customer of the Company or its Affiliates, or encourages any employee to leave the Company or an Affiliate; (ii) uses, discloses, misappropriates or transfers confidential or proprietary information concerning the Company or its Affiliates (except as required by the Participant’s work responsibilities with the Company or its Affiliates); or (iii) engages in any activity in violation of Company policies, including the Company’s Code of Conduct, or engages in conduct adverse to the best interests of the Company or its Affiliates; then the Options, whether previously vested or not, will be cancelled in full, and the Participant will be required to return to the Company any shares received on exercise of vested Options or the pre-tax income derived from any disposition of any shares received upon exercise of vested Options, unless the Company, in its sole discretion, elects not to cancel the Options. The obligations in this subsection are in addition to any other agreements related to non-solicitation and preservation of Company confidential and proprietary information entered into between the Participant and the Company, or otherwise applicable to the Participant, and nothing in this Agreement is intended to waive, modify, alter or amend the terms of any such other agreement. THE PARTICIPANT UNDERSTANDS THAT THIS SUBSECTION IS NOT INTENDED TO AND DOES NOT PROHIBIT THE CONDUCT DESCRIBED, BUT PROVIDES FOR THE CANCELLATION OF THE AWARD IN FULL AND A RETURN TO THE COMPANY OF ANY SHARES RECEIVED UPON SETTLEMENT OF EXERCISED VESTED OPTIONS OR THE GROSS TAXABLE PROCEEDS FROM THE DISPOSITION OF ANY SHARES RECEIVED UPON SETTLEMENT OF EXERCISED VESTED OPTIONS IF THE PARTICIPANT SHOULD CHOOSE TO VIOLATE THIS PARAGRAPH DURING THE OBLIGATION PERIOD. Nothing in this Agreement prohibits the Participant from voluntarily communicating, without notice to or approval by the Company, with any federal government agency about a potential violation of a federal law or regulation.

  • 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 or any other service you may have authorized with us or, if you do not have such protections with us, in accordance with any overdraft payment policy we have, as applicable.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

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