Account Description definition

Account Description. Members with an eligible Checking Account and associated debit card (excluding HSA accounts) may elect to enroll in this cost-free Service by signing this Agreement. Once enrolled, Cent Saver transfers will be posted on the day of enrollment and will be processed at the end of each business day. The Service is available only on the debit card(s) linked to your Wasatch Peaks Credit Union Checking Account and only if you select an eligible Savings Account to receive the Cent Saver transfer. Cent Saver Service: Wasatch Peaks Credit Union will round up the amount to the nearest whole dollar when you use your debit card to make everyday purchases. At the end of each business day, the round up amount from the debit card purchase(s) will be transferred to your Wasatch Peaks Credit Union Membership Savings or a Secondary Savings Account. For example, if you make a debit card purchase for $10.50, the transaction is rounded up to $11.00 (the nearest whole dollar.) The purchase price of $10.50 will be posted to your checking account and the round up amount of $0.50 will be posted at day-end processing and then transferred to the designated Savings Account. If multiple debit card transactions are posted on the same day, each transaction is rounded to the nearest whole dollar – i.e., if you make 3 debit card purchases for $10.50, each transaction is rounded up to $11.00 resulting in a single day-end Cent Saver transfer of $1.50 (3 x $0.50) to your Savings Account. If a debit card purchase is subsequently canceled or reversed, the Cent Saver transfer remains in your designated Savings Account. Eligible Debit Card Transactions: Each purchase you make using your Wasatch Peaks Debit Card associated with the enrolled Checking Account is an eligible debit card transaction. ATM, ACH, or check withdrawals are not eligible for this Service. If on a business day, you do not have sufficient available funds in your Checking Account, or if any transaction has overdrawn your Checking Account, Wasatch Peaks Credit Union will not round up debit card purchases posted on that business day. If Cent Saver transfers are not accounted for in your records, this may result in an overdraft of items presented for payment to your Checking Account. Refer to the Agreements and Disclosures provided to you at account opening for more information about overdrafts. If other owners on your Checking Account have a debit card linked to the Checking Account, purchases with those debit cards are included i...
Sample 1

Related to Account Description

  • Board means the Board of Directors of the Company.

  • Contractor means the individual or entity, that has entered into this contract with the Commonwealth.

  • Department means the department of health.

  • Contract means the written agreement entered into between the purchaser and the supplier, as recorded in the contract form signed by the parties, including all attachments and appendices thereto and all documents incorporated by reference therein.

  • Code means the Internal Revenue Code of 1986, as amended.

  • Services means those functional services ancillary to the supply of the goods, such as transportation and any other incidental services, such as installation, commissioning, provision of technical assistance, training, catering, gardening, security, maintenance and other such obligations of the supplier covered under the contract.

  • Subsidiary means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code.

  • Effective Date has the meaning set forth in the preamble.

  • Company has the meaning set forth in the Preamble.

  • Confidential Information has the meaning set forth in Section 6.1.

  • Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

  • Agreement has the meaning set forth in the preamble.

  • Affiliate means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

  • Director means a member of the Board.

  • Person means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

  • Exchange Act means the Securities Exchange Act of 1934, as amended.

  • Commission means the Securities and Exchange Commission.

  • Day means calendar day.

  • Party or “Parties” has the meaning set forth in the Preamble.

  • Employee means an employee of the Contractor directly engaged in the performance of work under the contract who has other than a minimal impact or involvement in contract performance.

  • Act means the Securities Act of 1933, as amended.