Common use of No Overdrafts Clause in Contracts

No Overdrafts. You cannot overdraw the Varo Bank Account. If the available balance in the Varo Bank Account is insufficient to cover any payment or withdrawal you have authorized, we can refuse to process the payment or withdrawal. If the Varo Bank Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If the Varo Bank Account has a negative balance for an extended period of time and you have another account with us, we reserve the right to exercise our right to set off. See the "Our Right to Set Off" paragraph below for details. If the Varo Bank Account has a negative balance for sixty (60) calendar days or more, it will be suspended. You will be able to continue to deposit funds into the account, but all other functions will be suspended until the charged off balance is repaid.