Protection service definition
Examples of Protection service in a sentence
If you enroll in our Account-to-Account Transfer Overdraft Protection service and designate another checking or savings account that you maintain with us (your “Funding Account”) to cover overdrafts in your account (your “Paying Account”), the maximum dollar amount of overdraft coverage available to your Paying Account will be the available balance in your Funding Account after all other debits to, and items to be paid from, your Funding Account have been paid.
The Overdraft Protection service will be provided once your checking account is opened and will continue as long as the account is maintained in good standing with the Credit Union.
If we transfer funds from your Funding Account to cover a Paying Account overdraft, then our service fee for Account-to-Account Transfer Overdraft Protection service will be charged and debited to your Funding Account.
The Overdraft Protection service is offered to all eligible checking account owners, unless revoked by OnPoint.
We reserve the right to cancel or suspend your Overdraft Protection service at any time at our sole discretion, for any reason.