Insufficient Funds and Overdrafts Clause Samples
Insufficient Funds and Overdrafts. When you initiate a withdrawal, fund transfer or other payment transaction from or through use of the Account or one is initiated against the Account, you must have an Available Balance in the Account that is sufficient to cover, at the time, in the amount and in the manner required under the Agreement, the Account Rules and/or any other agreements we may have with you, the withdrawal, fund transfer or other payment transaction you are initiating from or through use of the Account or that is being initiated against the Account. Please note that your Available Balance may be reduced by several factors as provided in the definition of “Available Balance” herein, including by debit card transaction holds. If under the Agreement or the Account Rules, the Available Balance is not sufficient or we otherwise deem in good faith that it is not sufficient, we will not be required to honour or pay, and we may return or reject, the withdrawal, fund transfer or other payment transaction. We may also assess against you and charge against the Account a insufficient funds (“NSF”) fee for each Item returned or rejected, including for multiple returns or rejections of the same Item. If funds in the Account are not sufficient to cover our NSF fees, you agree to pay us, on demand, the amount of such fees. If we pay a withdrawal, fund transfer or other payment transaction when you do not have a sufficient Available Balance, thereby creating or increasing an overdraft in your Account, we may also charge against the Account an NSF fee for each Item so paid. You agree to pay us, on demand, the amount of the overdraft and all fees associated therewith. Whether we pay a withdrawal, fund transfer or other payment transaction in such circumstances is solely within our discretion, and we reserve the right not to do so. We typically do not pay Items into overdraft if your Account is not in good standing, you are not making regular deposits, or you have had excessive overdrafts, but we may also refuse to pay any Item into overdraft for any other reason or for no particular reason. We may impose NSF fees in connection with the return or rejection of any type of Item, and in connection with our decision to pay any type of Item into overdraft status, including cheques, ATM withdrawals or withdrawals by other electronic means. Among our other rights, either before or after we make a demand upon you for payment of any overdraft amount or NSF fees, we may deduct all or any part of the amount ...
Insufficient Funds and Overdrafts. Your account becomes overdrawn when you do not have enough money in your account to cover a transaction. We may pay or return your insufficient funds item(s) at the Bank's discretion. An overdraft fee may be assessed per item for any returned or paid insufficient item(s). Overdraft fees are applicable to all checking, money market, savings, and health savings accounts. At the Bank's discretion, we may elect to waive an overdraft fee.
Insufficient Funds and Overdrafts. We may return any item that is drawn against insufficient funds in your account. If we return any item that is drawn against insufficient funds, we will charge your account a “returned check fee” or “returned ACH fee”. Returned items may be represented for payment multiple times. A returned check fee or returned ACH fee may be imposed each time an item is resubmitted and returned due to insufficient funds. Any negative balance in your account is immediately due and payable, unless we agree otherwise in writing. We have the right to offset negative balances in your accounts using any funds, including Social Security funds that are deposited into any of your accounts at TruStone, excluding IRA and HSA funds. It is your responsibility to ensure funds are available in your account when you write a check, use your debit or ATM card, or authorize any other type of withdrawal.
Insufficient Funds and Overdrafts. It is your responsibility to know if there are sufficient funds in your account before you write a check, make a cash withdrawal at an ATM, make a purchase with your debit card, or issue, initiate or authorize any other item for payment from your account. It is important that you carefully monitor the funds in your account, and promptly record in your account register all of your deposits to, and items that you issue, initiate or authorize for payment from, your account. You should never assume that you can make a covering deposit to your account before an item will be presented to us for payment because items are often presented to us for payment very quickly, and because funds from your covering deposit may not be immediately available for withdrawal. You can avoid insufficient funds and overdraft charges by making sure that your account always contains sufficient funds to cover all of your withdrawals and payment transactions. If you do not use an Overdraft Protection Service, then the actions that we are authorized to take in connection with an item presented to us for payment from your account and that would create an overdraft in your account if paid will depend upon the type of item, and those actions are as follows: If you are not covered by one of our Overdraft Protection Services described below, and you prefer that we authorize your “onetime” (“everyday”) debit card transactions for payment when your available balance is not sufficient to cover them, then you should consider our Debit Card Overdraft Authorization and Enrollment.
Insufficient Funds and Overdrafts. We may return any item that is drawn against insufficient funds in your account. If we return any item that is drawn against insufficient funds, we will charge your account the “ returned check fee” or the “ returned ACH fee”. Any negative balance in your account is immediately due and payable, unless we agree otherwise in writing. We have the right to offset negative balances in your accounts using any funds, including Social Security funds that are deposited into any of your accounts excluding IRA funds. It is your responsibility to ensure funds are available in your account when you write a check, use your debit or ATM card, or authorize any other type of withdrawal.
Insufficient Funds and Overdrafts. If a check, in-person withdrawal, or transaction made by other electronic means, hereafter referred to as an item, is drawn on this account and there are not sufficient funds to pay the item, we may pay or refuse to pay the item and charge the Insufficient Funds fee. If we pay a debit Point of Sale transaction which overdraws the account, we may charge the Overdraft fee – POS and deduct the overdraft from the next deposit or use any other collection remedy. If we pay an item which is presented against uncollected funds, we may charge the Uncollected Funds fee. More than one Insufficient Funds, Overdraft - POS, or Uncollected Funds fee may be charged against your account per day, depending on the number of items presented on the same day. Transactions may not be processed in the order in which they occurred. The order in which transactions are received and processed by the bank can affect the amount of fees you may incur. Fees may be imposed on both paper and electronic transfers. We do not in any way obligate ourselves to pay any item which would overdraw this account, regardless of the frequency with which we may do so as a matter of practice. You authorize us to obtain a credit bureau report on any accountholder in the event that it becomes necessary to collect overdrafts on your account. If we enlist the services of an attorney for collection purposes, we have the right to collect reasonable attorney's fees and court costs from you. Disclosure of Account Information – The Bank’s use of account information is governed by the Bank’s Privacy Policy, which can be found on ▇▇▇.▇▇▇▇▇▇.▇▇▇. Stop Payment - Upon your request, a stop payment order may be placed against a specific check(s). This request is subject to a "Stop Payment" fee. An oral order is binding for only fourteen calendar days unless confirmed in writing within that period. A written order is effective for only six months unless renewed in writing.
Insufficient Funds and Overdrafts. It is your responsibility to know if there are sufficient available funds in your account before you write a check, make a cash withdrawal at an ATM, make a purchase with your debit card, or issue, initiate or authorize any other item for payment from your account. It is important that you carefully monitor your available balance and current balance, and promptly record in your account register all deposits and all items that you issue, initiate, or authorize for payment from your account. You should never assume that you can make a covering deposit to your account before an item will be presented to us for payment—items are often presented to us for payment very quickly and funds from your covering deposit may not be immediately available for withdrawal. You can avoid insufficient funds and overdraft charges (as applicable to your account) by making sure that your available balance is always sufficient at the time all items, withdrawals, and payment transactions are presented to us for payment (including items that you have authorized but have not yet been presented to us for payment.) If you are a Consumer Banking customer and you do not use an Overdraft Protection Service, we are authorized to take the following actions based on transaction type:
Insufficient Funds and Overdrafts. If your Account(s) is in an overdraft situation, we may, at our sole discretion, refuse a withdrawal request that is greater than the available funds in your Account(s), aggregated with any overdraft protection you may have. If we honor a draft, check, or transfer request that exceeds this amount, then you must pay the overdraft immediately, as well as any applicable fee when we notify you. If we honor one of your overdrafts, we are not obligated to do so in the future, and it should not be assumed that we will do so. Additionally, our payment of any check shall not subject the Bank to any limitation contained in a restrictive legend, inscription, message, requirement, or other limitation contained in or on the check.
Insufficient Funds and Overdrafts. We have no obligation to pay any Item unless you have sufficient available funds in your Account when the Item is presented. Items will be paid based on the order of posting identified in Section
Insufficient Funds and Overdrafts. If an item is presented for payment and your account has insufficient funds to charge your account, we may (1) return the item, or (2) pay the item at our discretion and charge an NSF or Overdraft fee. Each subsequent presentment of the original item that was returned unpaid, will also incur a fee if funds are still insufficient at the time of re-presentment. Transactions are posted to your account in the order in which they are received. For fee information please see our Products, Services and Prices Brochure.