OVERDRAFT PRIVILEGE SERVICE AGREEMENT Clause Samples

The Overdraft Privilege Service Agreement outlines the terms under which a financial institution may cover transactions that exceed the available balance in a customer's account. This clause typically details the types of transactions eligible for overdraft coverage, such as checks, debit card purchases, or automatic bill payments, and specifies any associated fees or limits. By establishing clear rules for when and how overdrafts are permitted, the agreement helps prevent declined transactions and provides customers with short-term access to additional funds, while also clarifying the customer's responsibility for repaying any overdraft amounts.
OVERDRAFT PRIVILEGE SERVICE AGREEMENT. In accordance with our commitment to provide valued service and benefits, we may, at our discretion, pay your overdrafts that would cause your eligible checking account to have a negative balance up to the amount of your Overdraft Privilege limit, which is determined by us in our sole and absolute discretion. We refer to this service as our Overdraft Privilege Service (hereinafter referred to as the “Service”). The Service is different from the Unsecured Line of Credit and the Overdraft Transfer Service plans. The Service is a backup to your existing overdraft protection plans and will only be activated if funds are not available from those plans. This Overdraft Privilege Service Agreement sets forth the terms and conditions applicable to the Service. What Overdraft Transactions are Covered? The Service is available only for the payment of checks, preauthorized payments under our bill pay service, and ACH drafts and debits. The Service is not available at all for ATM transactions and telephone-initiated transactions. The Service is not available for one-time debit card transactions, unless you opt- in, as described in the next section below.
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OVERDRAFT PRIVILEGE SERVICE AGREEMENT. In accordance with our commitment to provide valued service and benefits, we may, at our discretion, pay your overdrafts that would cause your eligible checking account to have a negative balance up to the amount of your Overdraft Privilege limit, which is determined by us in our sole and absolute discretion. We refer to this service as our Overdraft Privilege Service (hereinafter referred to as the “Service”). The Service is different from the Unsecured Line of Credit and the Overdraft Transfer Service plans. The Service is a backup to your existing overdraft protection plans and will only be activated if funds are not available from those plans. This Overdraft Privilege Service Agreement sets forth the terms and conditions applicable to the Service.
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Related to OVERDRAFT PRIVILEGE SERVICE AGREEMENT

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  • Master Services Agreement This Agreement is a master agreement governing the relationship between the Parties solely with regard to State Street’s provision of Services to each BTC Recipient under the applicable Service Modules.

  • Data Processing Agreement The Data Processing Agreement, including the Approved Data Transfer Mechanisms (as defined in the Data Processing Agreement) that apply to your use of the Services and transfer of Personal Data, is incorporated into this Agreement by this reference. Each party will comply with the terms of the Data Processing Agreement and will train its employees on DP Law.

  • Administrative Services Agreement The Administrative Services Agreement has been duly authorized, executed and delivered by the Company and is a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.