Common use of Overdraft Transfers Clause in Contracts

Overdraft Transfers. Automatic Overdraft Transfers--Upon your request, we may set up automatic overdraft transfers for your Checking account. When sufficient funds are not available in your Checking account to cover a check or other debit, we will transfer the amount needed from your Share Savings or other Checking accounts, up to the available amount. However, federal regulation places limits on the number of certain transactions, including transfers for overdraft protection you make from Money Market and Share Savings Accounts. • LOC Overdraft Protection Loans—You may apply for a Line of Credit (Overdraft Protection Loan) from which we will transfer in $50.00 increments up to your available credit, to cover a check or ACH debit from your Checking account when sufficient funds are not available.