Overdrafts in General Sample Clauses

Overdrafts in General. Account Overdrafts generally occur if you do not have sufficient funds available in your Account. Company does not permit Account Overdrafts on Consumer Accounts. We are not obligated to pay any Item presented for payment if your Account does not contain sufficient funds. Transactions will be denied if you have insufficient funds in your Account. We have no obligation to notify you before we deny a transaction for insufficient funds. If there is an Overdraft paid by us, you are responsible for any overdrawn balances and any associated fees. If there is an Overdraft paid by us on an Account with more than one Owner, each Owner, shall be jointly and severally liable for such Overdraft, plus any applicable fees. The amount of our Overdraft Item can be found on the applicable Fee Schedule.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Overdrafts in General. An Account Overdraft could occur if you do not have sufficient funds available in your Account. We are not obligated to pay any Item presented for payment if your Account does not contain sufficient funds. Fees can be avoided for Overdrafts and returned Items by verifying your Accounts contain a sufficient Available Balance to cover your transactions. We may pay Overdrafts at our discretion, but you are responsible for any overdrawn balances and any associated fees. If there is an Overdraft paid by us on an Account with more than one Owner, each Owner, shall be jointly and severally liable for such Overdraft, plus any applicable fees. You will be notified by mail of any Overdraft Items, paid or returned that you may have; however, we have no obligation to notify you before we pay or return any Item. If you do not wish for us to pay Overdrafts at our discretion, please contact the Customer Contact Center at the phone number listed at the beginning of this Agreement to opt out. Overdraft Item Fee or a Returned Item Fee may be imposed on transactions such as: • The presentment of checks; • Automated teller machines (ATM) withdrawals; • Debit card transactions; • Preauthorized automatic debits: • Telephone-initiated transfers; • Digital Bankingtransfers; • Other electronic transfers; or • Other withdrawal requests. We must obtainyouraffirmativeconsent beforepaying OverdraftsforATM transactions or everydaydebit card transactions. Wewill not chargeyou an Overdraft Item Fee ifyourAccount is overdrawn, in total, by less than $5.00 andwill notchargeyouformorethan 6Overdraft Item Feesaday. Also, please be aware that the order transactions are posted may create multipleOverdrafts during a singledayor multiple Overdrafts on a single Item. See the Posting Order; Balances Section for more information on the order transactions post. The amount of our Overdraft Item or Returned Item Fee can be found on the applicable Fee Schedule.
Sample 1Sample 2See All (5)

Related to Overdrafts in General

  • Overdrafts The Trust is responsible for maintaining an appropriate level of short term cash investments to accommodate cash outflows. The Trust may obtain a formal line of credit for potential overdrafts of its custody account. In the event of an overdraft or in the event the line of credit is insufficient to cover an overdraft, the overdraft amount or the overdraft amount that exceeds the line of credit will be charged in accordance with the fee schedule set forth on Exhibit C hereto (as amended from time to time)

  • Overdraft In the event that the Custodian is directed by Proper Instructions to make any payment or transfer of funds on behalf of a Fund for which there would be, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of such Fund, the Custodian may, in its discretion, provide an overdraft ("Overdraft") to the Fund (such Fund being referred to herein as an "Overdraft Fund"), in an amount sufficient to allow the completion of such payment or transfer. Any Overdraft provided hereunder: (a) shall be payable on the next Business Day, unless otherwise agreed by the Overdraft Fund and the Custodian; and (b) shall accrue interest from the date of the Overdraft to the date of payment in full by the Overdraft Fund at a rate agreed upon in writing, from time to time, by the Custodian and the Overdraft Fund. The Custodian and the Funds acknowledge that the purpose of such Overdrafts is to temporarily finance the purchase or sale of securities for prompt delivery in accordance with the terms hereof. The Custodian hereby agrees to notify each Overdraft Fund by 3:00 p.m., New York time, of the amount of any Overdraft. Provided that Custodian has given the notice required by this subparagraph (f), the Funds hereby agree that, as security for the Overdraft of an Overdraft Fund, the Custodian shall have a continuing lien and security interest in and to all interest of such Overdraft Fund in Securities whose purchase is financed by Custodian and which are in Custodian's possession or in the possession or control of any third party acting on Custodian's behalf and the proceeds thereof. In this regard, Custodian shall be entitled to all the rights and remedies of a pledgee under common law and a secured party under the New York Uniform Commercial Code and any other applicable laws or regulations as then in effect."

  • Cash Management Services Funds received by Transfer Agent in the course of performing its services hereunder will be held in demand deposit bank accounts or money market fund accounts in the name of Transfer Agent (or its nominee) as agent for the Funds.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!