Discretionary Overdraft Privilege Clause Samples

Discretionary Overdraft Privilege. ▇▇▇▇▇▇ Savings Bank is not obligated to pay any item presented for payment if your account does not contain sufficient available funds. ▇▇▇▇▇▇ 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 ▇▇▇▇▇▇ 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. Notice of discretionary payment or return of any item will not be provided prior to making a decision. Pursuant to ▇▇▇▇▇▇ 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 ▇▇▇▇▇▇ 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. ▇▇▇▇▇▇ Savings Bank will consider, as a discretionary courtesy and not a right or obligation, approving reasonable overdrafts. ▇▇▇▇▇▇ 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 (ACH) withdrawals. You must opt in to include ATM and onetime debit transactions honored under Discretionary Overdraft Privilege program. If you are interested in opting in to include ATM and onetime debit transactions, please call ▇▇▇-▇▇▇-▇▇▇▇ or visit your local branch. Unpaid ...

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:

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