Overdraft Protection Plan. If we approve your request for overdraft protection, we will provide an overdraft protection plan for you. We will honor drafts drawn on insufficient funds in any checking account by transferring the funds from a Savings, Money Market, Ready Money loan account, Home Equity Line of Credit account or credit card account, if applicable, to your checking account. If you elect to have transfers from a deposit, Ready Money, Home Equity or credit card account, funds will be transferred in the amount necessary to clear the overdrawn item. If you elect to have transfers from shares, funds will be transferred in the amount necessary to clear the overdrawn item. If you elect to have transfers from a loan account, you authorize us to access your account and transfer funds to your checking account. The fee for overdraft transfers is set forth on the Rate and Fee Schedule. Transfers from a deposit account will be governed by this Agreement. Transfers from your Ready Money loan account, Home Equity Line of Credit or credit card account will be governed by the applicable loan agreement.
Appears in 3 contracts
Sources: Membership and Account Agreement, Membership and Account Agreement, Membership and Account Agreement