OVERDRAFT TRANSFER. When the cardholder signs up for overdraft transfer:
a) he authorizes the financial institution where he holds a PC account to draw an overdraft cash advance on his card account to cover any transaction on this account when the balance available in the PC account is insufficient. The overdraft cash advance will correspond to the exact amount necessary to cover the transaction;
b) subject to Section 16 d) of this Agreement, he undertakes that the PC account benefiting from the overdraft transfer will only require one signature;
c) he agrees that Desjardins may reserve on his card, for a period that may range from 5 to 7 business days, the amounts necessary to cover the funds withheld from one of the accounts in the cardholder’s folio and that the available credit limit will be adjusted accordingly;
d) he agrees, if the PC account benefiting from the overdraft transfer is a joint account or a proxy account, that the overdraft transfer may allow the person with whom he holds this account or a proxy, as the case may be, to effect a transaction which triggers an overdraft cash advance, even if this person is not a joint holder of the card with the cardholder;
e) he understands and agrees that the amounts reserved on his card to honour a transaction in process will be released and applied to the said transaction, even after the suppression or withdrawal of the overdraft transfer.
OVERDRAFT TRANSFER. Overdraft Transfer is an optional overdraft transfer program where you authorize us to make transfers from another account (“Transfer Account”) you have designated for overdraft transfers and overdraft transfer fees to cover Overdrafts on your Checking Account. This service is optional and by request. Eligible Transfer Accounts are at the sole discretion of the Credit Union. However, all Owners on the Checking Account must be Owners on the Transfer Account. If you have set up Overdraft Account Access: Access to Account Information: All Account Owners, borrowers and Authorized Representatives or Authorized Users may have access to all of the information you provide to us or that we gather and maintain regarding our relationship with you and may provide authority to others. This includes (but is not limited to) information regarding transactions, Account history, your loan relationships with us, and other information relating to or arising with regard to any of your Accounts, loans or other services with us. We use a consolidated statement that includes all of the information for your Accounts, Account services, loans and all other services with us. We are authorized to send or provide a consolidated statement jointly or individually to any individual Account Owner or borrower even though every person receiving the consolidated statement may not be Account Owners or borrowers on all of the Accounts or services addressed in the statement.
OVERDRAFT TRANSFER. Overdraft Transfer is an optional overdraft transfer program where you authorize us to make transfers from another account (“Transfer Account”) you have designated for overdraft transfers and overdraft transfer fees to cover Overdrafts on your Checking Account. This service is optional and by request. Eligible Transfer Accounts are at the sole discretion of the Credit Union. However, all Owners on the Checking Account must be Owners on the Transfer Account. If you have set up Overdraft Transfer on your Checking Account, we will consider, without Account with NuPal and Courtesy Pay – If your Checking Account has both a pre-approved line of credit (NuPal) and our discretionary overdraft service (Courtesy Pay), the authorization of ATM and everyday debit card transactions is based on your available account balance and your Courtesy Pay limit at the time of the transaction and is not based on the NuPal available line of credit. However, when presented, those transactions will be paid from available funds in the following order: (a) Account balance; (b) NuPal; (c) Overdraft Transfer; and (d) Courtesy Pay. Payable on Death Designations: Accounts with Payable on Death (“POD”) designations are governed by your agreements with us and by state law. A POD designation instructs us that the designated Account is payable to the Owner during their lifetime and upon death of the last Owner, is payable to the beneficiary designated in your Account records and in accordance with Applicable Law; unless subject to our right of set-off or a pledge of the funds in the Account, in which case all sums in the Account will belong to us up to the amount of the obligation owed. Any Owner, during their lifetime, may change any designated beneficiary by written direction to us. If any POD Account beneficiary is not of legal age at the time the funds in
OVERDRAFT TRANSFER. This service links your checking account to another share or deposit account, an overdraft line-of-credit account, or other account you so designate. When you do not have enough available funds (insufficient funds) to cover an item in your checking account, we may automatically transfer funds from the available balance in your linked overdraft transfer account. Insufficient funds may result from the presentation of a check, ACH, PIN-based debit card purchase transaction, signature-based debit card purchase transactions, or any combination of these transactions. We generally charge an overdraft transfer fee for each transfer. However, at our discretion, we may limit the daily fee assessed and a transaction threshold. Funds you deposit into your linked overdraft transfer account may not be available immediately for overdraft transfer.
OVERDRAFT TRANSFER. We will first attempt to transfer available funds from your other accounts and loans in the order specified by your instructions. In the absence of instructions from you, Mission Fed may, but is under no obligation to and generally will not, transfer funds in any order and from any of your accounts or loans. Transfers will be made for the amount needed to pay the item plus applicable fees. Refer to the current Consumer Fee Schedule for the fee amount. Mission Courtesy Pay. If a check or ACH item is presented for payment and your available balance is insufficient to pay an item, and we are unable to transfer funds as described above in the Overdraft Transfer section, at our discretion we may pay eligible transactions. A fee will be charged for each item we pay that results in a negative available balance. This service is only available on accounts that meet specified criteria as determined by Mission Fed, and the amount your account will be taken negative utilizing this service may fluctuate based on your account status. Contact Mission Fed to determine whether your account is eligible and the maximum overdraft amount available. Fees will decrease the amount available for payment of your eligible transactions under this service. Mission Fed reserves the right to limit participation, add or delete eligible transactions and discontinue the service at any time without prior notice. If you are eligible, you will be automatically enrolled, and if you do not wish to utilize this service you must notify us. For members who participate in Mission Courtesy Pay and already have Mission Debit Card Privilege for POS and signature-based Debit Card purchase transactions, the maximum overdraft amount available is for both services. Mission Debit Card Privilege. This service is only available on accounts that meet specified criteria determined by Mission Fed and you must enroll, or opt-in, to Mission Debit Card Privilege (MDCP) to utilize this service. In the event a POS or signature-based Debit Card transaction is presented for authorization and funds are not sufficient in your available balance to authorize the item, the item may be declined. With MDCP, the transaction may be authorized and take your available account balance negative. Fees will be charged for items paid resulting in a negative available balance, and holds for Debit Card transactions are excluded from available balance calculations during fee assessment. The maximum amount your account will be taken nega...
OVERDRAFT TRANSFER. When the cardholder signs up for overdraft transfer:
a) he authorizes the Desjardins xxxxxx where he holds a PC account to draw an overdraft cash advance on his account so as to cover any transaction on this account when the balance available in the PC account is insufficient. The overdraft cash advance shall correspond to the exact amount necessary to cover the transaction;
b) he undertakes that the PC account benefiting from the overdraft transfer only requires one signature; c) he accepts that the Federation may reserve on his card, for a period that may range from 5 to 7 business days, the amounts necessary to cover the funds withheld from one of the accounts in the cardholder’s folio and that the available credit limit be affected accordingly;
