Overdraft Protection Advances Sample Clauses

Overdraft Protection Advances. If you designate your credit card account as an overdraft protection source in writing, the following applies: You may request a loan advance on your credit card account by writing a check/share draft any time there are not sufficient funds in your check/share draft account. If you request a debit card or Online Access or Bill Payment transaction, you can also request a loan advance by using those services to make payments out of your credit union checking/share draft account when there are insufficient funds in that account. Any overdraft of your checking/share draft account, up to your unused credit limit on your credit card account, will be added to your loan balance under this Agreement if and when we pay the check/share draft or other transaction. We have the right to refuse overdraft loan advances but will promptly notify you in writing of the reasons for refusal. Overdraft protection advances will not be made if your credit union membership is not in good standing or if you do not have available credit. All overdraft loan advances will be in amounts sufficient to cover the overdrafts and any applicable fees assessed against your share or checking/share draft accounts. They will be subject to cash advance fees and overdraft protection advance fees (if any) and will begin to accrue interest charges as soon as they post.
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Overdraft Protection Advances. Overdraft protection advances will begin only if you designate your Card as an overdraft protection source in writing. If your checking account does not have sufficient available funds to cover any item presented and drawn on the account, any overdraft up to your unused credit limit will be added to your credit Card account balance under this Agreement, if the Credit Union pays the item. The Credit Union has the right to refuse overdraft advances but will notify you of the refusal. If there is more than one person listed on the checking account (such as a joint checking account) that you have linked for Overdraft Protection, then: (1) you will be responsible for all Overdraft Protection advances regardless of which person causes any item to be presented or engages in any other transaction that causes the overdraft (checks, ACH, debit Card, etc); and (2) you expressly consent to us disclosing to any other person on that checking account that the checking account is linked to the Card for Overdraft Protection. We reserve the right to cancel or suspend your Overdraft Protection service at any time at our sole discretion, for any reason.
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Overdraft Protection Advances. Overdraft protection advances will begin only if you designate your Card as an overdraft protection source in writing. If your checking account does not have sufficient available funds to cover any item presented and drawn on the account, any overdraft up to your unused credit limit will be added to your credit Card account balance under this Agreement,
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Overdraft Protection Advances. If you have an eligible checking account with us and have enrolled this Account to provide overdraft protection, you may link this credit card Account to the eligible checking account with us to cover an overdraft on that pre­designated checking Account under the terms of this Agreement and your checking account agreement. Credit Card Overdraft Protection works by charging your credit card with us for Cash Advances in the total amount of checks or other transactions drawn against insufficient funds, with resulting deposits of the Cash Advance amount into your checking Account to cover such checks or other transactions, up to your available Cash Advance Limit. This feature allows funds to be transferred from your Account into your pre­designated BancorpSouth Bank checking and/or money market account(s). Transfers resulting from overdrafts by you (including automatic transfers to cover checking account fees) to your Account will be subject to the terms of this Agreement. Each day’s total overdraft protection transaction will be processed up to the available Cash Advance Limit, regardless of who initiated the debit(s) that caused the overdrawn condition. If the available Cash Advance Limit is insufficient to cover your overdraft, we may refuse to process any such overdraft. Except as provided below, we will automatically transfer funds sufficient to cover the amount of any overdraft transaction to your predesignated checking or money market account(s). Transfers to your checking and/or money market account from your Account are processed after close of business Monday through Friday and the amount of your then available Cash Advance Limit on your Account must be sufficient to cover all checks and other items creating an overdraft status received by us on that day. A Cash Advance Transaction Fee will be assessed for each such overdraft protection advance. An Interest Charge is imposed on each Cash Advance from the date the transaction is made. No Interest Charge is imposed on new Purchases if you pay the New Balance shown on your Periodic Statement on or before the Payment Due Date as shown on the Periodic Statement where such purchases initially appear. If the New Balance is not paid in full as specified above, an Interest Charge will apply. We figure the Interest Charge on your account by applying the periodic rate to the “average daily balance” of your account. To get the “average daily balance” we take the beginning balance of your account each day, add an...
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Overdraft Protection Advances. If your Card Account has been linked to a designated business checking account using procedures we established, the Card Account may be used as a form of overdraft protection whereby overdrawing your checking account triggers an advance of funds from the Card Account. Overdraft Protection Advances are treated as Cash Advances. Your Card Account must have sufficient available funds to make a Ready Cash Deposit. The amount we transfer will be in $50 increments sufficient to cover the amount overdrawn. If the unused credit available is less than $50, a transfer will not be made. You may terminate the Ready Cash Deposit service at any time by writing to us at the address on your monthly Statement. We may cancel or suspend the Ready Cash Deposit service at any time for any reason without prior notice except as required by applicable law. If we cancel or suspend the Ready Cash Deposit service, we will not be liable for any consequences that occur as a result. Some of these services may not be available at all ATMs, terminals or merchant locations. The Bank is not responsible for the refusal of any merchant to accept or honor a Card. Failure of a Cardholder to sign a draft does not relieve you of liability for the transaction.
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Overdraft Protection Advances. In addition, an overdraft fee may be charged, refer to the separate account disclosure, which may be amended from time to time.
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Overdraft Protection Advances. Overdraft protection advances will begin only if you
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Related to Overdraft Protection Advances

  • Payment of Overdrafts If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft, item, transaction, or other items posted to your account plus any applicable fee ("overdraft"), we may pay or return the overdraft. The credit union's determination of an insufficient available account balance may be made at any time between presentation and the credit union's midnight deadline with only one (1) review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an overdraft. Your account may be subject to a charge for each overdraft regardless of whether we pay or return the overdraft. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay an overdraft, we do not agree to pay overdrafts in the future and may discontinue covering overdrafts at any time without notice. If we pay an overdraft or impose a fee that overdraws your account, you agree to pay the overdrawn amount in accordance with your overdraft protection plan or, if you do not have such a plan, in accordance with our overdraft payment policy. • Order of Payments. Checks, drafts, items, and other transactions may not be processed in the order that you make them or in the order that we receive them. We may, at our discretion, pay a check, draft, or item and execute other transactions on your account in any order we choose. The order in which we process checks, drafts, and items and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. Please contact us if you have questions about how we pay checks or drafts and process transfers and withdrawals. You agree not to issue any check or draft that is postdated. If you do issue a check or draft that is payable on a future date and we pay it before that date, you agree that we shall have no liability to you for such payment. You agree not to deposit checks, drafts, or other items before they are properly payable. We are not obligated to pay any check or draft drawn on your account that is presented more than six (6) months past its date. • Stop Payment Order Request. Any owner may request a stop payment order on any check or draft drawn on the owner's account. To be binding the order must be in writing, dated, signed, and must accurately describe the check or draft, including the exact account number, check or draft number, and the exact amount of the check or draft. This exact information is necessary for the credit union to identify the check or draft. If we receive incorrect or incomplete information, we will not be responsible for failing to stop payment on the check or draft. In addition, we must receive sufficient advance notice of the stop payment order to allow us a reasonable opportunity to act on it. If we re-credit your account after paying a check or draft over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to assign to us all of your rights against the payee or other holders of the check or draft, and to assist us in any legal action. • Duration of Order. Written stop payment orders are effective for six (6) months and may be renewed for additional six (6) month periods by requesting in writing that the stop payment order be renewed within a period during which the stop payment order is effective. We are not required to notify you when a stop payment order expires. • Liability. Fees for stop payment orders are set forth in the Schedule of Fees and Charges. You may not stop payment on any certified check, cashier's check, teller's check, or any other check, draft, or payment guaranteed by us. Although payment of an item may be stopped, you may remain liable to any item holder, including us. You agree to indemnify and hold the credit union harmless from all costs, including attorney's fees, damages, or claims related to our refusing payment of an item, including claims of any joint account owner, payee, or endorsee in failing to stop payment of an item as a result of incorrect information provided by you.

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