Overdraft Privilege refer to the Overdraft Privilege disclosure provided to you at the time of your checking account is established, or contact us in writing at P.O. Box 2477 Brea, CA 00000-0000, by telephone at 000.000.0000, or by emailing us at xxxxxxxxx@xxxxxxxxx.xxx Overdrafts which cannot be honored are payable on demand and may result in termination of your account(s). Electronic check conversion and similar transactions - An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions, the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the check to examine the signatures on the item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures. BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS – Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity. STOP PAYMENTS - Unless otherwise provided, the rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules. We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in wr...
Overdraft Privilege. You agree that if, pursuant to any overdraft privilege on a Credit Union Share Draft Account, there is an overdraft of Your Share Draft Account, the amount of overdraft will be added to the outstanding balance on Your Visa Credit Card Account, subject to the finance charge provisions set forth in “INTEREST AND FINANCE CHARGES” as described for cash advances, and will be subject to all terms and conditions of this Agreement. The Visa Credit Card Account must be current and not over the credit limit for funds to transfer to the Share Draft Account. Overdrafts are not allowed for the purpose of making loan payments, including Visa Credit Card payments, at the Credit Union, ATM or in-branch teller cash withdrawals. The Share Draft Account referred to herein is also subject to a separate agreement between You and the Credit Union. Where the terms of any other agreement between You and the Credit Union conflict with the terms of this Agreement, the terms of this Agreement will control.
Overdraft Privilege. We may pay checks or drafts, permit withdrawals and make transfers to your account from insufficient funds if you have enrolled in our overdraft protection plan. The term “pay” in this Agreement means to transfer funds from your account to any other account, including another account in your name, or the account of any third party. However, the fact that we may pay withdrawal requests that overdraw your available account balance does not obligate us to do so later. So, you can NOT rely on us to pay overdrafts on your account regardless of how frequently or under what circumstances we have paid overdrafts on your account in the past. We can change our practice of paying overdrafts on your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line of credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time Debit Card transactions if you have not opted-in to that service. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees. What is the difference between your Actual Balance and your Available Balance? Your account has two kinds of balances: the actual balance (also commonly referred to as the ledger balance) and the available balance. The actual balance is the amount of money that is actually in your account at any given time. It reflects transactions that have been finally settled and paid to your account (in the case of deposits you receive), or from your account (in the case of payments), but it does not include transactions that have been authorized and are pending. Your available balance is the amount of money in your account that is available to you to use. The available balance may take into account holds placed on deposits and pending transactions (such as pending Debit Card purchases) that have been authorized but that have not yet been paid from your account. WE DETERMINE WHETHER YOUR ACCOUNT IS OVERDRAWN BASED ON YOUR AVAILABLE BALANCE AT THE TIME AN ITEM IS PRESENTED OR ATTEMPTS TO BE POSTED. IF A TRANSACTION IS PRESENTED FOR PAYMENT THAT EXCEEDS YOUR AVAILABLE BALANCE (WE REFER TO THIS AS NOT HAVING ENOUGH MONEY IN YOUR ACCOUNT TO COVER...
Overdraft Privilege. The overdraft privilege may activate when funds are not available in your checking account, or through an overdraft protection plan. Items will automatically be honored up to the $800 limit assigned to your account. An overdraft privilege fee may be charged for each item that creates an overdraft on your account. The Credit Union will send you a notice each time an overdraft occurs.
Overdraft Privilege. You agree that if, pursuant to any overdraft privilege on a Credit Union Share Draft Account that you have agreed to, there is an overdraft of Your Share Draft Account, the amount of overdraft will be added to the outstanding balance on Your Visa Credit Card Account, subject to the interest charge provisions set forth Section 10 as described for cash advances, and will be subject to all terms and conditions of this Agreement. The Visa Credit Card Account must be current and not over the credit limit for funds to transfer to the Share Draft Account. Overdrafts are not allowed for the pur- pose of making loan payments, including Visa Credit Card payments, at the Credit Union, ATM or in-branch teller cash withdrawals. The Share Draft Account referred to herein is also subject to a separate agreement between You and the Credit Union. Where the terms of any other agreement between You and the Credit Union conflict with the terms of this Agreement, the terms of this Agreement will control.
Overdraft Privilege. In accordance with our commitment to provide valued service and benefits, we may, if you qualify, at our discretion, pay overdrafts that would cause your eligible Share Draft Account to have a negative balance up to the amount of your limit, which is determined by us in our sole and absolute discretion. Overdraft Privilege is different than the Overdraft Transfer Service. Overdraft Privilege is a backup to the Overdraft Transfer Service and will only be activated if funds are not available from the Overdraft Transfer Service. Note that Overdraft Privilege is not available for business/organizational accounts, minor accounts, or for fiduciary accounts (e.g., trust, escrow, representative payee, guardianship, etc.).
Overdraft Privilege. Overdrafts are paid at the Credit Union’s discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Overdraft privileges eligibility is at the sole discretion of the Credit Union and is based on your managing your checking account in a responsible manner. If we do not authorize and pay an overdraft, your transaction will be declined and the fees will be charged according to the Fee Schedule. All deposits to overdrawn accounts are applied to the negative balance. We can cover your overdrafts in the following ways:
Overdraft Privilege. In accordance with our commitment to provide valued service and benefits, we may, if you qualify, at our discretion, pay overdrafts that would cause your eligible checking account to have a negative balance up to the amount of your limit, which is determined by us in our sole and absolute discretion. Overdraft Privilege is different than the Overdraft Transfer Service. Overdraft Privilege is a backup to the Overdraft Transfer Service and will only be activated if funds are not available from the Overdraft Transfer Service.
Overdraft Privilege. We are not obligated to pay any item presented for payment if your account does not contain sufficient collected funds. Rather than automatically returning, unpaid, any non-sufficient funds items you may have, if your “ eligible account type” has been open for at least 30 days and thereafter you maintain your account in good standing, which includes at least:
Overdraft Privilege. If your Account meets our eligibility standards (based on the length of time your Account has been opened, the type of activity, the type of account and your usage of the Account), under Standard Overdraft Privilege we will consider authorizing and paying overdrafts (for a fee) for the following types of transactions: checks and other transactions made using your checking account number, online bill payments, ACH transactions or automatic/pre-authorized debits. For consumer accounts, unless you have consented to Extended Overdraft Privilege, we generally do not authorize and pay ATM and everyday debit card transactions that would overdraw your Account. With Overdraft Privilege, we pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. For additional information regarding Overdraft Privilege, please refer to our separate disclosure entitled Overdraft Coverage Options.
