Common use of Overdraft Advances Clause in Contracts

Overdraft Advances. (a) You or any person responsible to us for repayment of your Account may arrange with us to have your Account provide overdraft protection for an eligible UMB checking account in which any of you has an ownership interest. Your Account can only provide overdraft protection for one checking account. If you have requested and we have agreed to provide such overdraft protection, the terms and conditions governing that coverage are set forth in a separate agreement that supplements this Agreement, which we will send you when we establish your overdraft protection. (b) In this Agreement, an Advance from your Account to cover an overdraft in your checking account is called an “Overdraft Advance.” Any Overdraft Advance will be treated as a Cash Advance under this Agreement, except that, for each Overdraft Advance, we charge the Overdraft Advance Fee shown in the Account Opening Disclosures, instead of charging the Cash Advance Fee. Each Overdraft Advance will be made in $100 increments. Overdraft Advances will be posted to your Account as set forth in Section 9 below, and the periodic rate interest charge on the Overdraft Advance will be charged as set forth in Section 15 below.

Overdraft Advances. (a) You or any person responsible to us for repayment of your Account may arrange with us to have your Account provide overdraft protection for an eligible UMB checking account in which any of you has an ownership interest. Your Account can only provide overdraft protection for one checking account. If you have requested and we have agreed to provide such overdraft protection, the terms and conditions governing that coverage are set forth in a separate agreement that supplements this Agreement, which we will send you when we establish your overdraft protection. (b) In this Agreement, an Advance from your Account to cover an overdraft in your checking account is called an “Overdraft Advance.” Any Overdraft Advance will be treated as a Cash Advance under this Agreement, except that, for each Overdraft Advance, we charge the Overdraft Advance Fee shown in the Account Opening Disclosures, instead of charging the Cash Advance Fee. Each Overdraft Advance will be made in $100 increments. Overdraft Advances will be posted to your Account as set forth in Section 9 11 below, and the periodic rate interest charge on the Overdraft Advance will be charged as set forth in Section 15 17 below.