OVERDRAFT POLICY. Unless we have agreed to a separate overdraft protection agreement with you, the following rules apply. We are not obligated to pay any overdraft. We may assess a fee for each transaction that results in an overdraft, whether we pay the transaction or not. If we pay the transaction, you agree, immediately upon notice from us, to deposit funds sufficient to cover the overdraft plus any fees we impose. If you do not deposit enough money to make your account balance positive within 45 days after your account becomes overdrawn, your account will be closed. If we close your account because you did not repay your overdraft, we may report negative information about your account to a consumer reporting agency. We may also refer your account to a collection agency to recover the amount you owe us.
OVERDRAFT POLICY. (1) Within thirty (30) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written policy concerning the extension of overdrafts that shall include, at a minimum:
OVERDRAFT POLICY. In accordance with our commitment to provide valued service and benefits, we may, at our discretion, pay your overdraft transactions that would cause your eligible checking account to have a negative balance in the account based on the account’s “available balance” at the time a transaction is posted. We refer to this service as our Courtesy Pay Service. This Courtesy Pay and Overdraft Disclosure sets forth the terms and conditions applicable to the Courtesy Pay Service. If your account becomes overdrawn and you do not have overdraft protection, you are obligated to reimburse us on demand. What is an Overdraft? Some transactions can result in an overdraft (i.e., negative balance) in your checking account, when your available balance is insufficient to cover a transaction, but we pay it anyway under our Courtesy Pay Service. These transactions that can result in overdrafts include, but are not limited to:
OVERDRAFT POLICY. In accordance with your commitment to provide valued service and benefits, you may, at your discretion, pay my overdrafts that would cause my eligible checking account to have a negative balance up to the amount of my Overdraft Service limit, which is determined by you in your sole and absolute discretion. You refer to this service as your Overdraft Service (hereinafter referred to as the “Service”). The Service is different than the Personal Line of Credit and the Overdraft Protection Service plans. The Service is a backup to my existing overdraft protection plans and will only be activated if funds are not available from those plans. This Overdraft Services Agreement sets forth the terms and conditions applicable to the Service.
OVERDRAFT POLICY. An insufficient balance could result in several ways. An overdraft fee occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. A non-sufficient funds (NSF) fee is charged when your account is overdrawn, the item is returned and is not paid. Your account has two types of balances: the “actual” balance and the “available” balance. Both can be checked when you review your account online or at a branch. It is important to understand how the two balances work so that you know how much money is in your account at any given time. Your actual 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 and are pending. Any purchased, holds, fees, other charges, or deposits made on your account that have not yet posted will not appear in your actual balance. For example, if you have a $50 actual balance, but you just wrote a check for $40, then the actual balance does not reflect the pending check transaction. Your available balance is the amount of money in your account that is available to you to use without incurring an overdraft fee. When making a transaction at a branch, the actual balance (also called ledger balance) is listed on the receipt. The available balance takes into account things like holds placed on deposits and pending transactions (such as pending debit card purchases) that the Credit Union has authorized but that have not yet posted to your account. For example, assume you have an actual balance of $50 and an available balance of $50. if you were to use your debit card at a restaurant for $20, the that merchant could ask us to preauthorize the payment. In that case, we would put a “hold” on your account for $20. Your actual balance would still be $50 because the transaction has not yet posted, but your available balance would be $30 because you have committed to pay the restaurant $20. When the restaurant submits its xxxx for payment (which could be a few days later), we will post the transaction to your account and your actual balance will be reduced by $20. Available balance is used to determine when your account is overdrawn. The following example illustrates how this works: Again, assume your actual and available balances are both $50, and you swipe your debit card at a restaurant for $20. A hold is placed on your account, so your available balance is only $30. Your a...
OVERDRAFT POLICY. (1) Within thirty (30) days, the Board shall prepare and submit to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection a written policy concerning the extension of overdrafts that shall include, at a minimum:
OVERDRAFT POLICY. (1) The Board shall immediately implement, and thereafter ensure Bank adherence to, a written policy concerning the extension of overdrafts that shall include, at a minimum:
OVERDRAFT POLICY. We strongly encourage the responsible use of all accounts. It is against the law to write a check when you know that you do not have funds to cover it. Also, excessive NSF items may result in your account being closed. To avoid NSF items: — You can sign up for Overdraft Protection, — Accurately record all transactions including deposits, checks, ATM, POS, or Debit MasterCard withdrawals and fees. — Balance your account regularly and carefully check your math.
OVERDRAFT POLICY. If your account becomes overdrawn and you do not have overdraft protection, you are obligated to reimburse us on demand. What is an Overdraft? – Some transactions can result in an overdraft (i.e., negative balance) in your checking account, when your available balance is insufficient to cover a transaction. These transactions that can result in overdrafts include, but are not limited to:
OVERDRAFT POLICY. In accordance with our commitment to provide valued service and benefits, we may, at our discretion, pay your overdrafts that would cause your eligible checking account to have a negative balance up to the amount of your Courtesy Pay limit, which is determined by us in our sole and absolute discretion. We refer to this service as our Courtesy Pay Service (hereinafter referred to as the “Service”). This Courtesy Pay Agreement (“Agreement”) sets forth the terms and conditions applicable to the Service. The Service is available for checking accounts for which the primary checking account owner is 18 years of age or older and has been a member in good standing for at least ninety (90) days. We reserve the right to limit the Service to one (1) account per household or member. What is an Overdraft?
