We Make Pay / Return Decisions and Assess Fees on the Morning of the Following Business Day Sample Clauses

We Make Pay / Return Decisions and Assess Fees on the Morning of the Following Business Day. On the morning of the Business Day following our posting of credits to and our processing of Debit Transactions from your deposit account(s) in the manner described above, we may review your deposit account(s) to determine if there is a sufficient available balance and/or if there are sufficient collected funds to pay all of the Debit Transactions presented for payment. Please be aware that merchants and third parties sometimes re-present items that we may have previously returned unpaid. There is no limit on the number of attempts for re-presentment from a sending bank, merchant, or third party. If the available balance in your deposit account is insufficient to pay a Debit Transaction when it is presented and processed in this fashion, we may, in our sole discretion, pay the Debit Transaction and create an overdraft on your deposit account or return the Debit Transaction unpaid due to insufficient available funds. We have no obligation to permit overdrafts on your deposit account(s) and a decision to do so does not require us to do so in the future. We are not liable to you or to any third party for our decision to either pay or return a Debit Transaction presented for payment that exceeds your available balance. We may impose an Overdraft Charge if we pay a Debit Transaction that exceeds the available balance in your account. You will not be assessed an Overdraft Charge for ATM and one-time POS Transactions that overdraw your deposit account’s available balance unless you have opted in to our overdraft service, OKTOPAY. Further, we will not assess you an Overdraft Charge if the only reason the available balance in your deposit account was overdrawn was because of the assessment of a bank fee. The amounts of our Overdraft Charges are disclosed in our Rates and Fees Schedule. You agree to immediately repay the amount of any overdraft created on your deposit account. You also agree to immediately pay the amount of any Overdraft Charge that may be assessed. If your deposit account is a joint deposit account, all deposit account owners agree that these repayment obligations are joint and several, regardless of which one of you may have initiated the Debit Transaction that was paid against either insufficient available or uncollected funds or that was returned unpaid. You agree that these amounts may be repaid out of any subsequent deposit to your deposit account or set off against such deposit to your deposit account including, without limitation, deposits o...
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Related to We Make Pay / Return Decisions and Assess Fees on the Morning of the Following Business Day

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