No Overdrafts Clause Samples
The No Overdrafts clause prohibits an account holder from withdrawing more funds than are available in their account. In practice, this means that any attempted transactions exceeding the current balance will be declined, and the account will not be allowed to go into a negative balance. This clause serves to prevent unauthorized borrowing, protect the financial institution from credit risk, and encourage responsible account management by ensuring that only available funds are used.
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No Overdrafts. You are not permitted to overdraw your Savings Account. If the available balance in your Savings Account is not sufficient to cover any payment or withdrawal you have authorized, we may refuse to process the payment or withdrawal. If your Savings Account balance becomes negative for any reason, you must make a deposit or transfer immediately to cover the negative balance. If your Savings Account has a negative balance for an extended period of time and you have another account with us, we reserve the right to exercise our right to set off. See the "Right to Set Off" section below for details. If your Savings Account has a negative balance for ninety (90) calendar days or more it will be closed. In the event you fail to pay the amount of any overdraft, and we refer your overdrawn account to an attorney for collection, you agree to pay all reasonable expenses, including, but not limited to, reasonable attorney’s fees and court costs incurred by us as a result of your account being overdrawn.
No Overdrafts. You are not permitted to overdraw your Account. If the available balance in your Account is not sufficient to cover any payment or withdrawal you have authorized, we can refuse to process the payment or withdrawal. If your Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If your Account has a negative balance for more than fifteen (15) days and you have another account with us, we reserve the right to exercise our right to set off. See the "Right to Set Off" section below for details. If your Account has a negative balance for sixty (60) calendar days or more, it will be closed.
No Overdrafts. You are not permitted to overdraw your Account. If the available balance in your Account is not sufficient to cover any payment or withdrawal you have authorized, we may refuse to process the payment or withdrawal. If your Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If your Account has a negative balance and you have another account with us, we reserve the right to exercise our right to set off. See Section 4.2.4 below for details. If your Account has a negative balance for sixty (60) calendar days or more it will be closed. If you fail to pay the amount of any overdraft, we reserve the right to refer your overdrawn account to an attorney for collection, and you agree to pay all reasonable expenses, including, but not limited to, reasonable attorney’s fees and court costs incurred by us as a result of your account being overdrawn.
No Overdrafts. You are not permitted to overdraw the Account. If the available balance in the Account is insufficient to cover any payment or withdrawal you authorized, we can refuse to process the payment or withdrawal. If the Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If the Account has a negative balance and you have another account with us, we reserve the right to exercise our right to set off. See the “
No Overdrafts. You cannot intentionally overdraw the Savings Account. If the available balance in the Savings Account is insufficient to cover any payment or withdrawal you have authorized, we will refuse to process the payment or withdrawal. If the Savings Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance.
No Overdrafts. You are not permitted to overdraw your Account. If the available balance in your Account is insufficient to cover any payment or withdrawal you have authorized, Bank may refuse to process the payment or withdrawal. If your Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If your Account has a negative balance for an extended period of time and you have another account with Bank, Bank reserves the right to exercise Bank’s right to set off. See Section 2.5 "Right to Set Off" below for details. If your Account has a negative balance for thirty (30) calendar days or more it will be closed. In the event you fail to pay the amount of any overdraft and Bank refers your overdrawn account to an attorney for collection, you agree to pay all reasonable expenses, including, but not limited to, reasonable attorney’s fees and court costs incurred by Bank as a result of your account being overdrawn.
No Overdrafts. The Account may not be overdrawn. If the available balance in the Account is insufficient to cover any authorized payment, withdrawal, or check, we can refuse to honor the payment, withdrawal, or check. If the Account balance should become negative for any reason, a deposit or deposits must be immediately made to cover the negative balance. If the Account has a negative balance for ninety (90) calendar days, it will be closed.
No Overdrafts. You cannot overdraw the Varo Bank Account. If the available balance in the Varo Bank Account is insufficient to cover any payment or withdrawal you have authorized, we can refuse to process the payment or withdrawal. If the Varo Bank Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If the Varo Bank Account has a negative balance for an extended period of time and you have another account with us, we reserve the right to exercise our right to set off. See the "Our Right to Set Off" paragraph below for details. If the Varo Bank Account has a negative balance for sixty (60) calendar days or more, it will be suspended. You will be able to continue to deposit funds into the account, but all other functions will be suspended until the charged off balance is repaid.
No Overdrafts. You are not permitted to overdraw your Account. If the available balance in your Account is at any time not sufficient to cover any payment or withdrawal you have authorized, we may refuse to process the payment or withdrawal. If your Account balance becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If your Account has a negative balance of (i) $1 or more, it will be closed immediately and (ii) less than $1 for thirty (30) calendar days or more it will be closed. If you fail to pay the amount of any overdraft, we reserve the right to refer your overdrawn Account to an attorney for collection, and you agree to pay all reasonable expenses, including, but not limited to, reasonable attorney’s fees and court costs, incurred by us as a result of your Account being overdrawn.
No Overdrafts. The Parties acknowledge that, notwithstanding that NBD may have honored overdrafts in the past, hereafter, neither NBD nor any of its affiliates will, under any circumstances, honor any checks or other items presented to NBD or such affiliates for payment for which there are insufficient available funds in Code-Alarm's accounts and NBD or such affiliates, as the case may be, may return any such items so presented.