Common use of Overdrafts (Order of Payments, Transfers, and other Withdrawals) Clause in Contracts

Overdrafts (Order of Payments, Transfers, and other Withdrawals). If your account has insufficient funds to perform all electronic funds transfers (ATM withdrawals, debit card transactions, pre-authorized transactions, OMB Online Banking transfers and ▇▇▇▇ payments, etc.) that you have requested for a given business day, then: 1. Certain electronic funds transfers involving currency disbursement, like ATM withdrawals, will have priority, and 2. The electronic funds transfers initiated through OMB Online Banking may result in an overdraft of your account or, at our discretion, we may cancel the transfer. In addition, you will be charged the same charges that apply to your account.

Appears in 3 contracts

Sources: Online Access Agreement, Online Access Agreement, Online Banking Access Agreement