Common use of Your Overdraft Liability Clause in Contracts

Your Overdraft Liability. If on any day, the available funds in your checking account are not sufficient to cover checks and other items posted to your account, those checks and items will be handled in accordance with our overdraft procedures and the terms of this Agreement. The available balance is your account balance minus any account holds and is impacted by pending debit card transactions or checks, preauthorized items, service charges as disclosed in the Rate and Fee Schedule, deposit holds or holds placed due to notification of previously deposited items being returned unpaid. The Credit Union’s determination of an insufficient account balance is made at the time the check or item is presented to us, which may be later than the time you conduct the transaction. The Credit Union has no duty to notify you of a check or item that will overdraw your account. If we pay an item that overdraws your account, you are liable for and agree to pay the overdraft amount and any fees immediately. You will be subject to a charge for each presentment, whether paid or returned as set forth in the Rate and Fee Schedule. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payer bank extra time beyond any midnight deadline limits.

Your Overdraft Liability. If on any day, the available funds in your checking account are not sufficient to cover checks and other items posted to your account, those checks and items will be handled in accordance with our overdraft procedures and the terms of this Agreement. The available balance is your account balance minus any account holds and is impacted by pending debit card transactions or checks, preauthorized items, service charges as disclosed in the Rate and Fee Schedule, deposit holds or holds placed due to notification of previously deposited items being returned unpaid. The Credit Union’s determination of an insufficient account balance is made at the time the check or item is presented to us, which may be later than the time you conduct the transaction. The Credit Union has no duty to notify you of a check or item that will overdraw your account. If we pay an item that overdraws your account, you are liable for and agree to pay the overdraft amount and any fees immediately. You will be subject to a charge for each presentment, item whether paid or returned as set forth in the Rate and Fee Schedule. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payer bank extra time beyond any midnight deadline limits.