Common use of OVERDRAFT POLICY Clause in Contracts

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.