OVERDRAFT DISCLOSURE. The Deposit Account Agreement for Personal and Business Accounts contains detailed information regarding how Items will be processed against your Account, how you may incur an Overdraft, and the fees that you may incur if you do not have Sufficient Available Funds in your Account when the Items are presented for payment. Please read the discussion on Insufficient Funds and Overdrafts in Section 2.B of the Deposit Account Agreement.
OVERDRAFT DISCLOSURE. This Overdraft Disclosure describes the circumstances when Mission Fed will pay overdrafts in your checking account and charge you a fee. “Overdraft” means there is not enough available balance in your account to pay for a transaction. Overdrafts are generally processed in two ways: (1) we use eligible Overdraft Protection to pay the transaction and charge you a fee, or (2) we return the transaction Nonsufficient Funds and charge you a fee. Fees vary and are described in our Consumer Fee Schedule, which is updated periodically. Please note that for one-time debit card transactions, you must affirmatively opt-in to the Mission Debit Card Privilege program for us to authorize and pay one-time debit card transactions that will result in insufficient available funds in your account. The best way to know how much money you can spend and to avoid paying fees is to record and track all of your transactions closely. The following is important information regarding your account balances, how transactions are posted to your account balances, and when a fee will be charged. Please read these disclosures carefully and contact us at 000.000.0000 if you have any questions. Your current balance is the amount of money that is actually in your account at any given time. It reflects transactions that have “posted” to your account, but not transactions that have been authorized but not yet posted. While the term “current” may sound as though the number you see is an up-to-date display of what is in your account that you can spend, that is not always the case. Any purchases, holds, fees, other charges or deposits made on your account that have not yet posted will not appear in your current balance. For example, if you have a $50 current balance, but you just wrote a check for $40, then your current balance is $50 but it does not reflect the pending check transaction. So at that point, you have $50 in your current account balance, but you have already spent $40 that has not been posted. Your available balance is the amount of money in your account that is available to you to use without incurring a fee. The available balance takes into account things like holds placed on deposits and pending transactions (such as pending debit card purchases) that Mission Fed has authorized but that have not yet posted to your account. For example, assume you have a current balance of $50 and an available balance of $50. If you were to use your debit card at a restaurant to buy lunch for $20, ...
OVERDRAFT DISCLOSURE. “Overdraft” means there is not enough available balance in your account to pay for a transaction. This Overdraft Disclosure describes the circumstances when Mission Fed will pay overdrafts in your checking account and charge you a fee. Overdrafts are generally processed in two ways: (1) we use eligible Overdraft Protection Services to pay the transaction and charge you a fee, or (2) we return the transaction Non-sufficient Funds (NSF). Fees vary and are described in our Consumer Fee Schedule, which is updated periodically. Please note that for one-time debit card transactions, you must affirmatively opt-in to the Debit Card Overdraft Protection program for us to authorize and pay one-time debit card transactions that will result in insufficient available funds in your account.
