Common use of Insufficient Funds and Overdrafts Clause in Contracts

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. 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.