Informal Overdraft facility definition

Informal Overdraft facility. – means the informal short-term credit facility we provide to you when a debit to your account would mean your account is temporarily overdrawn and you and the debit satisfy our criteria for the facility.

Informal Overdraft facility means any informal short-term credit facility ANZ may provide to you if a debit to your account would, if processed, result

Informal Overdraft facility means the informal short-term credit facility we provide to you when a debit to your ANZ Equity Manager account would mean your account is overdrawn in excess of the available credit under your ANZ Equity Manager facility, and you and the debit satisfy our criteria for the informal short-term credit facility or we otherwise allow the debit to be processed to your account.

Examples of Informal Overdraft facility in a sentence

• If the amount of the transaction is more than your available balance (including any approved overdraft or credit limit) and we do not provide the amount under the Informal Overdraft facility (refer to section 2.19 for details of the Informal Overdraft facility) or, in the case of ANZ V2 PLUS accounts, the transaction would reduce your balance to an amount less than $5,000, the transaction may be rejected and the fees referred to above will not be charged.

• However, that account will operate as a transaction account, and you will not be able to overdraw the account other than under the Informal Overdraft facility.

• If a withdrawal would mean that your account would be overdrawn, we will only allow the withdrawal if there is available credit under any formal overdraft facilities or other formal credit facilities applicable to your account, or otherwise if the withdrawal is able to be processed using the Informal Overdraft facility, in which case an Overdrawn Fee may be payable (refer to section 2.19 for details of the Informal Overdraft facility).

• If ANZ allows a debit using the Informal Overdraft facility, the excess interest rate set out in your covering Letter of Offer will be charged on the Informal Overdraft.

• During the term of the facility, we will allow you to overdraw your ANZ Equity Manager account up to your credit limit (and may allow you to overdraw your account beyond your credit limit under the Informal Overdraft facility referred to below).

More Definitions of Informal Overdraft facility

Informal Overdraft facility means the informal short-term credit facility ANZ provides to you when:

Informal Overdraft facility means the informal short-term credit facility we provide to you when:

Informal Overdraft facility means the informal short-term credit facility we provide to you when a debit to your Equity Manager credit facility would temporarily result in your outstanding balance exceeding your credit limit and you and the debit satisfy our criteria for the facility.

Informal Overdraft facility means the informal short-term credit facility we provide to you when a debit to your Equity Manager credit facility would temporarily result in

Informal Overdraft facility means the informal short-term credit facility ANZ may provide to you pursuant to this clause if a debit to your account (excluding a periodical payment) would, if processed, result in either:

Informal Overdraft facility means the informal short-term credit facility we provide to you when a debit to your ANZ Everyday Visa Debit account

Informal Overdraft facility means any informal short-term credit facility ANZ may provide to you if a debit to your account would, if processed, result in your approved limit on your account being exceeded.