Overdraft Protection Plan definition

Overdraft Protection Plan. If we have approved an overdraft protection for your account, we will honor checks, Debit Card transactions, fees or other items posted to your account, drawn on insufficient funds by transferring funds from another source, as you have directed, or as required under the Credit Union’s overdraft protection policy. If you have not directed us to pull funds from another source, we will automatically use your savings account as the overdraft source. The fee for overdraft transfers, is set forth in the Schedule of Fees and Charges. The Credit Union may rely upon your overdraft Authorization until it is revoked or modified in writing by any account owner or an authorized representative, or by court order. You agree that all checking account overdraft transactions shall be governed by the Credit Union’s current membership and deposit account contracts, rules and regulations, and Schedule of Fees and Charges. You further agree that the Credit Union shall have no duty to make inquiries or monitor any overdraft account activities, payments, withdrawals, deposits, use of funds, or other actions of any account owner. You shall remain personally liable to the Credit Union for any overdraft activity, and agree to indemnify and hold the Credit Union harmless from any and all loss, cost or damage incurred or suffered by the Credit Union at any time by reason of the Credit Union honoring your instructions concern- ing overdraft activity or paying any overdraft. The terms and existence of your overdraft protection privileges may be revoked, modified or supplemented by the Credit Union at any time with or without advance notice to you.
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Overdraft Protection Plan. If we have approved an overdraft protection plan for your ac- count, we will honor drafts drawn on insufficient funds by transferring funds from another account under this Agreement or a loan account, as you have directed, or as required under the Credit Union’s overdraft protection policy. The fee for overdraft transfers, if any, is set forth on the Rate and Fee Schedule. This Agreement governs all transfers except those governed by agreements for loan accounts. POSTDATED CHECKS We may pay any check without regard to its date. You agree not to deposit checks or other items before they are properly payable. STOP PAYMENT ORDERS Stop Payment Order Request: You may request a stop payment order on any check drawn on your account. To be binding, a stop payment order must be dated, signed and describe the account, and check number and the exact amount. The stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order and you accurately and timely describe the account number, date of the check, payee name, number of the check and its exact amount. You understand that the exact information is necessary for the Credit Union’s computer to identify the check. If you give us incorrect or incomplete information, we will not be responsible for failing to stop payment on the check We must be given reasonable opportunity to act on any stop payment order before it can be considered effective. If the stop payment order is not received in time for us to act upon the order, we will not be liable to you or to any other party for payment of the check. If we re-credit your account after paying a check over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer to us all of your rights against the payee or other holders of the check, and to assist us in any legal action. We are not obligated to reimburse you for a paid stop payment unless you can provide proof of loss associated with such payment.
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Overdraft Protection Plan. “Order of Payments,” and “Governing Law” are deleted. The section in the Consumer Electronic Fund Transfers Agreement and Disclosure entitled “Governing Law” is deleted. All other sections continue to apply, as supplemented by these Change in Terms, and are not replaced. Crediting of Deposits. Please refer to our Funds Availability Policy for information regarding when deposits are deemed received by us, and for information regarding when funds are made available. Please remember that even after we make funds available to you, and you have withdrawn the funds, you are responsible for checks and other items you deposit that are returned to us unpaid and for any other problems involving your deposit. ACCOUNT ACCESS - Access Options. We may return as unpaid any check or draft drawn on a form we do not provide. Any losses, expenses or fees we incur as a result of handling such a check or draft will be charged to your account. FUND TRANSFERS – Electronic fund transfers we permit that are subject to Article 4A of the Uniform Commercial Code, including Automated Clearinghouse (ACH) credit transactions and wire transfers, will be subject to such provisions of the Uniform Commercial Code as enacted by Hawaii (the state in which the Credit Union’s principal administrative office is located), except as otherwise provided in this Agreement or in the consumer electronic fund transfers agreement and disclosure. ACH transfers are subject to rules of the National Automated Clearinghouse Association (NACHA). If we execute requests for funds transfers by Xxxxxxx, such transfers are subject to the Federal Reserve Board’s Regulation J.
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Examples of Overdraft Protection Plan in a sentence

  • We allow withdrawals only if your account has an available balance sufficient to cover the entire amount of the withdrawal, or if you have set up an Overdraft Protection Plan or you have Courtesy Pay or Courtesy Pay for Debit.

  • If you have agreed to use our Overdraft Protection Plan, Ready Reserve, any overdrafts on a checking account covered by the plan will be treated as an Advance against your Account in $50.00 increments and will be subject to the terms and conditions covering Advances under this Agreement.

  • The Overdraft Protection Plan must be accepted by us before the overdraft occurs in order for it to be used to automatically cover an overdraft.

  • Our Savings Overdraft Protection Plan does not automatically transfer funds from your savings account to cover ATM or debit card transactions when needed.

  • Generally, your account becomes eligible once the following requirements are met: • You have established an Overdraft Protection Plan (overdraft transfers) on your account.

  • Overdraft Protection Plan If we have approved an overdraft protection plan for your account, we will honor drafts drawn on insufficient funds by transferring funds from another account under this Agreement or a loan account, as you have directed, or as required under our overdraft protection policy.

  • We reserve the right to limit the number of overdrawn checks and the total dollar amount of overdrawn checks, transfers, and/or withdrawal request that may be paid under the Overdraft Protection Plan at any time.

  • Your checking account may have an Overdraft Protection Plan as described in the Membership Agreement.

  • The Overdraft Protection Plan cannot be applied for and is made available only to members meeting specific qualifying criteria.

  • Your checking account may have an Overdraft Protection Plan as described in Ent’s Membership and Account Agreement.


More Definitions of Overdraft Protection Plan

Overdraft Protection Plan. “Order of Payments,” and “Governing Law” are deleted. The section in the Consumer Electronic Fund Transfers Agreement and Disclosure entitled “Governing Law” is deleted. All other sections continue to apply, as supplemented by these Change in Terms, and are not replaced. • Make loan payments from your share, checking, and loan accounts. • Obtain balance information for your share, checking, loan, certificate, and credit card accounts. • Obtain tax information on dividends earned on share and checking accounts or interest paid on loan accounts. • Open new accounts. • Place check stop payments. • Setup account alerts via SMS text, Push Notification or Email. • Setup alerts and controls on your debit card. • Set up recurring transactions. • Transfer funds from your share, checking, and line of credit accounts. • Verify the date and amount of recent deposits. • View eStatements.
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Related to Overdraft Protection Plan

  • fall protection plan means a documented plan, which includes and provides for -

  • Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

  • Closing protection letter means an agreement by the division to indemnify a lender or owner or both for loss caused by a division closer’s theft of settlement funds or failure to comply with written closing instructions relating to title certificate coverage when agreed to by the division closer.

  • Source Protection Plan means a drinking water source protection plan prepared under the Clean Water Act, 2006;

  • Data Protection Legislation means the Data Protection Act 1998 and all applicable laws and regulations relating to processing of personal data and privacy, including where applicable the guidance and codes of practice issued by the Information Commissioner or relevant Government department in relation to such legislation;

  • UK Data Protection Legislation means all applicable data protection and privacy legislation in force from time to time in the UK including the UK GDPR; the Data Protection Act 2018; the Privacy and Electronic Communications Directive 2002/58/EC (as updated by Directive 2009/136/EC) and the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) as amended.

  • Data Protection Act means Act CXII of 2011 on Informational Self-Determination and Freedom of Information.

  • the applicable data protection law means the legislation protecting the fundamental rights and freedoms of individuals and, in particular, their right to privacy with respect to the processing of personal data applicable to a data controller in the Member State in which the data exporter is established;

  • European Data Protection Laws means the EU General Data Protection Regulation 2016/679 (“GDPR”) and data protection laws of the European Economic Area (“EEA”) and their member states and the FADP.

  • Environmental Protection Agency (EPA) means the United States Environmental Protection Agency.

  • MFN Protection has the meaning set forth in Section 2.14(e)(iii).

  • Data Protection Acts means Data Protection Act 1988, as amended by the Data Protection (Amendment) Act 2003, and as may be modified, amended, supplemented, consolidated or re- enacted from time to time;

  • Protection Legislation means (i) the GDPR; (ii) the Data Protection Act 2018 to the extent that it relates to the processing of Personal Data and privacy; and (iii) all applicable Law relating to the processing of Personal Data and privacy, including where applicable the guidance and codes of practice issued by the Information Commissioner, in each case as amended, supplemented or substituted from time to time; Domestic Successor means, as the context requires, either:

  • Consumer Protection Act means the Consumer Protection Act, No 68 of 2008;

  • Fire Protection means all aspects of fire safety including but not limited to fire prevention, fire fighting or suppression, pre-fire planning, fire investigation, public education and information, training or other staff development and advising.

  • Financial Instruments Accounts Act means the Swedish Financial Instruments Accounts Act (lag (1998:1479) om kontoföring av finansiella instrument).

  • New Jersey Stormwater Best Management Practices (BMP) Manual or “BMP Manual” means the manual maintained by the Department providing, in part, design specifications, removal rates, calculation methods, and soil testing procedures approved by the Department as being capable of contributing to the achievement of the stormwater management standards specified in this chapter. The BMP Manual is periodically amended by the Department as necessary to provide design specifications on additional best management practices and new information on already included practices reflecting the best available current information regarding the particular practice and the Department’s determination as to the ability of that best management practice to contribute to compliance with the standards contained in this chapter. Alternative stormwater management measures, removal rates, or calculation methods may be utilized, subject to any limitations specified in this chapter, provided the design engineer demonstrates to the municipality, in accordance with Section IV.F. of this ordinance and N.J.A.C. 7:8-5.2(g), that the proposed measure and its design will contribute to achievement of the design and performance standards established by this chapter.

  • Plant Protection Gas means the minimum volumes required to prevent physical harm to the plant facilities or danger to plant personnel when such protection cannot be afforded through the use of an alternate fuel. This includes the protection of such material in process as would otherwise be destroyed, but shall not include deliveries required to maintain plant production. A determination will be made by the Seller of minimum volumes required. Such essential volumes will be dispatched accordingly.

  • Credit accident and health insurance means insurance on a debtor to provide

  • Applicable Data Protection Law means all data privacy or data protection laws or regulations globally that apply to the Processing of Personal Information under this Data Processing Agreement, which may include Applicable European Data Protection Law.

  • Data Protection means the implementation of appropriate administrative, technical or physical means to guard against unauthorized intentional or accidental disclosure, modification, or destruction of data.

  • Applicable Data Protection Laws means all national, international and local laws, regulations and rules by any government, agency or authority relating to data protection and privacy which are applicable to CPA Global or the Customer, including but not limited to The General Data Protection Regulation (Regulation (EU) 2016/679), (GDPR);

  • Data Protection Laws means EU Data Protection Laws and, to the extent applicable, the data protection or privacy laws of any other country;

  • Environmental Protection Agency or “EPA” means the United States Environmental Protection Agency.

  • Data Protection Laws and Regulations means all laws and regulations, including laws and regulations of the European Union, the European Economic Area and their member states, Switzerland and the United Kingdom, applicable to the Processing of Personal Data under the Agreement.

  • Equality Legislation means any and all legislation, applicable guidance and statutory codes of practice relating to diversity, equality, non-discrimination and human rights as may be in force from time to time in England and Wales or in any other territory in which, or in respect of which, the Supplier provides the Services;