Common use of Nonsufficient Funds Clause in Contracts

Nonsufficient Funds. We reserve the right to charge you a fee each time a check, ACH or debit transfer and any other type of item is presented or payment is otherwise requested and regardless of the type of loan or account to which your payment was applied. At our discretion, this fee may be added to the principal balance of your loan, may be charged to an account you or any other person obligated on your account maintain with us, or may be billed directly to you or such other person obligated on your account.

Nonsufficient Funds. We reserve the right to charge you a fee each time a check, ACH or debit transfer and any other type of an item is presented or returned due to insufficient funds regardless of your method of payment is otherwise requested (i.e. checks, electronic transfer, automated clearing house, etc.) and regardless of the type of loan or account to which your payment was applied. At our discretion, this fee may be added to the principal balance of your loan, may be charged to an account you or any other person obligated on your account maintain with us, or may be billed directly to you or such other person obligated on your account.