Common use of No Overdrafts Clause in Contracts

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.

Appears in 1 contract

Sources: Commercial Checking Account Agreement

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) $1 100 or more, it will be closed immediately and (ii) less than $1 100 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.

Appears in 1 contract

Sources: Consumer Checking Account Agreement

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.

Appears in 1 contract

Sources: Commercial Checking Account Agreement