Non-Sufficient Funds and Overdrafts. If your account lacks sufficient funds to pay a check, preauthorized transfer, or other debit activity presented for payment as determined by the available balance or actual balance in your account, we may (1) return the item, or (2) pay the item at our discretion. Available Balance. The available balance is the amount of funds that you have in your account to spend without incurring an overdraft fee. The available balance reflects pending credits or debits and transactions and checks that have not yet cleared your account. For example, you have $100 in your account and spend $25 on groceries. The $25 may show as a pending transaction, and your available balance is $75. If you spend more than the available balance, then you may incur an overdraft fee. Actual Balance. The actual balance is the total amount of funds in your account and does not reflect any pending credits or debits, transactions, or checks that have not cleared your account. For example, you have $100 in your account and spend $25 on groceries. The $25 may show as a pending transaction, but the $100 is your actual account balance and the amount you can spend before you incur an overdraft fee. If we return the item without paying it, we may charge you a non-sufficient funds fee. If we do pay the item on your behalf, you will be responsible to pay the overdrawn balance and an overdraft fee. Our handling of these items may subject your account to a fee as disclosed in the Fee Schedule or other Disclosures. Unless we advise you otherwise, we will process checks and other debit items in an order determined in our sole discretion.
Non-Sufficient Funds and Overdrafts. If your account lacks sufficient funds to pay a check, preauthorized transfer, or other debit activity presented for payment as determined by your available account balance, we may (1) return the item or (2) pay the item at our discretion. We may charge you fees if we return the debit or item or pay the debit or item on your behalf. A Collection Fee is applied to those accounts in overdraft status for ten (10) consecutive days and each ten (10) consecutive days thereafter. Available Balance. We use an Available Balance method to determine if there are sufficient funds in your account to pay an item or debit transaction. How We Decide to Pay an Item or Debit and How We Assess Fees. The Available Balance reflects deposits and transactions that have been posted to your account and transactions that have not settled or posted to your account, including the following: checks you have written, if applicable; deposit holds; and debit card transactions that have been authorized but not yet settled/posted and paid (i.e., preauthorization holds). These pending transactions and holds reduce your Available Balance. For example, you have $100 in your account and you spend $30, which shows as a pending transaction on your account. Your Available Balance is $70 because the pending $30 transaction reduces your Available Balance. The amount being held is not necessarily applied to the previously authorized transaction or to any specific transaction. If the hold expires and the transaction has not been paid, the amount being held will be returned to your Available Balance. We determine whether you have sufficient funds available to pay a transaction at the time the transaction is posted to your account, not at the time the transaction is authorized. If you do not have sufficient available funds at the time of posting, the debit transaction will cause you to overdraw, and you may incur an overdraft fee. This can occur even if your account did have sufficient available funds when the merchant requested authorization. Your debit card transaction is paid when the merchant presents it to us for payment and the transaction posts to your account – that is, when the merchant asks us to transfer the funds from your account to the merchant. It is important to note that authorization and payment of debit card transactions do not occur simultaneously – there can be days between. If other account activity has caused the available funds in your account to decrease before the debit card t...
Non-Sufficient Funds and Overdrafts. We may determine the available balance in your account for the purpose of deciding whether to
Non-Sufficient Funds and Overdrafts. If your account lacks sufficient collected funds to pay a check, preauthorized transfer or other debit activity, presented for payment we may return such item for non-sufficient funds and will charge you a fee for each occurrence as provided in the Miscellaneous Fee Schedule. Please reference the Peoples Bank Overdraft Management Service document and Opt-In Disclosure for additional information on how overdraft and non-sufficient funds fees are assessed at Peoples Bank, and ways to avoid them. These disclosures contain important information even if you opted out of certain overdraft protections.
Non-Sufficient Funds and Overdrafts. If your account lacks sufficient funds to pay a debit transaction or item presented for payment as determined by your available account balance or actual (ledger) balance, we may (1) return the debit or item or (2) pay the debit or item at our discretion. Available Balance. We use an available balance method to determine if there are sufficient funds in your account to pay a debit transaction or item and to assess non-sufficient funds and overdraft fees. How We Decide to Pay a Debit or Item. The available balance reflects deposits and transactions that have been posted to your account and transactions that have not posted to your account, including the following: checks you have written, if applicable; deposit holds; and holds on debit card transactions that have been authorized but not yet posted (i.e., preauthorization holds). These pending transactions and holds reduce your available balance. For example, you have $100 in your account and a pending transaction of $30. Your available balance is $70 because the pending $30 transaction reduces your available account balance.
Non-Sufficient Funds and Overdrafts. If your account lacks sufficient funds to pay a check, preauthorized transfer, or other debit activity presented for payment as determined by the available balance or actual balance in your account, we may
Non-Sufficient Funds and Overdrafts. If your account lacks sufficient funds to pay a check, preauthorized transfer, or other debit activity presented for payment as determined by your available account balance or actual (ledger) balance, we may (1) return the item or (2) pay the item at our discretion. Available Balance. The available balance reflects deposits and transactions that have been posted to your account, such as checks you have written, and transactions that have been authorized but not yet posted to your account, including deposit holds and holds on debit card transactions that have been authorized but not yet posted (i.e. preauthorization holds). These pending transactions and holds reduce your available balance. For example, you have $100 in your account and you spend $30, which shows as a pending transaction on your account. Your available balance is $70.
Non-Sufficient Funds and Overdrafts. If your account lacks sufficient funds available to pay a check, preauthorized transfer, or other debit activity presented for payment, we may (1) return the item, or (2) pay the item at our discretion. If we return the item without paying it, we may charge you a non-sufficient funds fee. If we do pay the item on your behalf, you will be responsible to pay the overdrawn balance and an overdraft fee. Overdrafts may be covered by our standard overdraft practice that comes with your account or an overdraft protection plan, such as a link to an account or a line of credit. As part of our standard overdraft practice, we do not authorize and pay overdrafts on ATM or everyday debit card transactions unless you request us to do so. Our handling of these items may subject your account to a fee as disclosed in the fee schedule or other Disclosures. We will process checks and other debit items in the order identified in your Truth In Savings disclosure.
Non-Sufficient Funds and Overdrafts. We determine the Available Balance in your account (as more fully explained above in Section 6) to decide whether to authorize or permit payment of an Item and also to decide whether to return a check or deny payment of an Item for non-sufficient funds (an “NSF Item”). We need only make one determination, but if we choose to make a subsequent determination, the Available Balance at the subsequent time will determine whether there are sufficient available funds. An “overdraft” is a negative Available Balance in your account that occurs when the Available Balance is insufficient to cover an Item, but we pay it anyway. At our discretion, we may either honor (i.e. pay) or dishonor (i.e. not pay) an NSF Item that will create an overdraft. We are not required to send you prior notice of NSF Items we pay which create an overdraft or NSF Items we return.
Non-Sufficient Funds and Overdrafts. If the Available Balance in your account does not have enough money to cover a transaction at the time it is presented to us for authorization or payment, it is referred to as a non-sufficient funds (“NSF”) transaction. An overdraft occurs when the Available Balance in your account does not have enough money to cover a transaction at the time it is presented to us for authorization or payment, but we at our discretion authorize or pay it anyway. This means we do not guarantee that we will always authorize or pay any type of transaction. Even if we have paid overdraft transactions before, we are not required to do it in the future. The Credit Union limits the maximum amount of NSF transactions you may incur per calendar month. Please refer to your Schedule of Fees and Services for the cap as well as dollar amounts charged.
