Overdraft Protection Advance definition

Overdraft Protection Advance is an advance of funds to your designated checking account from this Account that will help cover overdrafts on your checking account. Any Overdraft Protection Advance will post and be charged interest as an Advance drawn on the Account. Please refer to the U.S. Bank Deposit Account Agreement (entitled, "Your Deposit Account Agreement") for full Overdraft Protection Plan terms and the Consumer Pricing Information Brochure for fees that apply for Overdraft Protection Advances. We may cancel Overdraft Protection privileges under the Account, even if the Account remains open for other purposes.
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Overdraft Protection Advance is an advance of funds to your designated checking account from this Account that will help cover overdrafts on your checking account. Any Overdraft Protection Advance will post and be charged interest as an Advance drawn on the Account. Please refer to the U.S. Bank Deposit Account Agreement (entitled, "Your Deposit Account Agreement") for full Overdraft Protection Plan terms and the Consumer Pricing Information Brochure for fees that apply for Overdraft Protection Advances. We may cancel Overdraft Protection privileges under the Account, even if the Account remains open for other purposes. Note: For Young Adult Accounts, the young adult’s name and ▇▇▇▇▇▇▇▇’s name must both be named on the linked checking account in order to have Overdraft Protection.
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Overdraft Protection Advance is an advance of funds to your designated checking account from this Account that will help cover overdrafts on your checking account. Any Overdraft Protection Advance will post and be charged interest as an Advance drawn on the Account. Please refer to the U.S. Bank Deposit Account Agreement (entitled, "Your Deposit Account Agreement") for full Overdraft Protection Plan terms and the Consumer Pricing Information Brochure for fees that apply for Overdraft Protection Advances. Changing account ownership on the associated checking account will result in the termination or suspension of your right to further advances and/or closure of the Account. We may cancel Overdraft Protection privileges under the Account, even if the Account remains open for other purposes.
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Examples of Overdraft Protection Advance in a sentence

  • Please verify the amount of the Overdraft Protection Advance with your financial institution.

  • An Overdraft Protection Advance will be made only once per day, and will be made in the amount determined by your financial institution (regardless of the specific overdraft amount).

  • Any Overdraft Protection Advance will post and be disclosed as either a "Financial Institution Cash Advance" or an "Overdraft Protection Advance on your periodic statement, and will be subject to either a Financial Institution Cash Advance fee or an Overdraft Protection Advance fee, depending on how the Advance is processed.

  • Any Overdraft Protection Advance will post and be disclosed as either a "Financial Institution Cash Advance" or an "Overdraft Protection Advance” on your periodic statement, and will be subject to either a Financial Institution Cash Advance fee or an Overdraft Protection Advance fee, depending on how the Advance is processed.

  • An Overdraft Protection Advance is an advance of funds to my designated checking account from this Account that will prevent or cover overdrafts on my checking account.

  • An Overdraft Protection Advance will be made only once per day, and you will automatically transfer funds sufficient to cover the exact dollar amount of the overdraft.

  • In addition to any cash advance fee and finance charges that are assessed to your Account for an Overdraft Protection Advance, separate fees may be assessed to your designated checking account(s) for accessing Overdraft Protection (see the fee schedule for your checking account(s) for specific fee information).

  • You will be charged a cash advance fee for each Overdraft Protection Advance.

  • If your right to use the Account has been cancelled or suspended, or if you are in default under the terms of this Agreement, and we refuse to make an Overdraft Protection Advance, we may, in our sole discretion, (i) not pay any checks, items or entries that would cause an overdraft with respect to the applicable checking account or (ii) pay any checks, items or entries and permit an overdraft with respect to the applicable checking account.

  • Any Overdraft Protection Advance will be processed and will post as a cash advance to your Account.


More Definitions of Overdraft Protection Advance

Overdraft Protection Advance is an advance of funds to your designated checking account from this Account that will help cover overdrafts on your checking account. Any Overdraft Protection Advance will post and be charged interest as an Advance drawn on the Account. Please refer to the U.S. Bank Deposit Account Agreement (entitled, "Your Deposit Account Agreement") for full Overdraft Protection Plan terms and the Consumer Pricing Information Brochure for fees that apply for Overdraft Protection Advances. We may cancel Overdraft Protection privileges under the Account, even if the Account remains open for other purposes. INTEREST CHARGES AND ACCOUNT FEES Account INTEREST CHARGES. INTEREST CHARGES reflect the cost of credit. Your total INTEREST CHARGE for any billing cycle will equal the amount of any (a) periodic rate INTEREST CHARGE (sometimes referred to as “interest” in this Agreement and on monthly Account statements), (b) Advance Transaction Fees, and (c) any other transaction fees that are considered INTERST CHARGES. Interest Rate: In this Agreement, we have abbreviated the terms “daily periodic rate” as DPR, “average daily balance” as ADB, and “ANNUAL PERCENTAGE RATE” as APR. Your variable APRs are calculated by adding a margin to the Index. Your Variable DPR is equal to 1/365th of the corresponding APR. Your DPR and corresponding APR may increase or decrease from time to time according to the movements up or down of the Index, which is the Prime Rate published in the “Money Rates” section of the Midwest Edition of The Wall Street Journal on the last publication day before the date on which the billing cycle closed (in other words, the “statement date”). We reserve the right to choose a comparable new index if The Wall Street Journal ceases to publish a Prime Rate. The margin is the percentage we add to the Index to calculate APR. The current applied Index value for your Account is 3.25
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Overdraft Protection Advance means the principal amount of $5,000,000, outstanding and payable to ▇▇▇▇▇ pursuant to the Overdraft Protection Agreement, which together with interest equals $5,602,773.97 as of May 19, 2010, and with interest continuing to accrue at a per-diem rate of approximately $1,643.84.
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