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Overdraft Privilege
Overdraft Privilegesm
- For Personal Checking Accounts
We’ve Got YOU Covered! Overdraft Privilegesm
Means…
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Avoiding additional merchant charges for redeeming
returned checks!
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Additional convenience and flexibility in managing
your funds!
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Peace of mind, knowing your checks will be honored!
Overdraft Privelegesm
will provide the ability to overdraw your account up to $300 for “Free
Checking” accounts, and up to $500 for other personal checking accounts,
and $700 for personal checking accounts with regular reoccurring direct
deposit (excluding “Free Checking” Accounts).
As long as your account has been open 30 days and is
maintained in good standing, which is defined as, but not limited to:
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Making regular deposits sufficient to cover your
transactions;
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Bringing your account to a positive balance – not
overdrawn for more than 30 consecutive days; and
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Having no legal orders outstanding on your account.
We will normally honor (pay) your overdrafts up to the
limits set for your type of account. These limits include normal
Non-Sufficient Funds (NSF) charges on each overdrawn item.
Overdraft Privilegesm
is extended as a non-contractual courtesy to our Union State Bank personal
checking customers. There are no additional papers to sign and no action
is required on your part. This service costs you nothing unless you use
the privilege.
If you write a check, other payment, or withdrawal
request for more than the funds on deposit in your account, we will cover
them, and save you time, money and inconvenience. Our normal
non-sufficient funds or overdraft charge will apply to each item
overdrawing your account.
Union State Bank
Overdraft Privilegesm Policy and
Funds
Availability Disclosure Addendum
It is the policy of our bank to comply with applicable
laws and regulations, and to conduct business in accordance with
applicable safety and soundness standards. An insufficient balance may
result from:
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The payment of checks, or withdrawal requests;
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Payments authorized by you;
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The return of unpaid items deposited by you;
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The imposition of bank service charges; or
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The deposit of items which according to the Bank’s
Funds Availability Policy, are treated as not yet “available” or finally
paid.
We are not obligated to pay any item presented for
repayment if your account does not contain sufficient collected funds.
However if you maintain your account in good standing, defined as: A)
Making regular deposits; B) Bringing the account to a positive balance
every thirty days or less; and C) No legal orders outstanding, we will
approve your reasonable overdrafts as a non-contractual courtesy.
Generally we will not approve an overdraft for you in excess of: $300 for
“Free Checking” accounts open more than thirty (30) days, and $500 for
other personal checking accounts open more than thirty (30) days, and $700
on personal checking accounts with regular reoccurring direct deposit open
more than thirty (30)days (excluding “Free Checking” accounts). These
limits include our Non-Sufficient Funds and/or Overdraft (NSF/OD) Charge(s).
We may refuse to pay an overdraft for you at any time, even though we may
have previously paid overdrafts for you. You will be notified by mail of
any non-sufficient funds items paid or returned that you may have;
however, we have no obligation to notify you before we pay or return any
item. The amount of any overdrafts plus our Non-sufficient funds and/or
Overdraft (NSF/OD) charge(s) that you owe us shall be due and payable upon
demand. If there is an overdraft paid by us on an account with more than
one (1) owner on the signature card, each owner, and agent if applicable,
drawing or presenting the item creating the overdraft, shall jointly and
severally be liable for such overdrafts plus our Non-sufficient Funds
and/or Overdraft (NSF/OD) charge(s).
LIMITATIONS: Available only to consumer accounts
(excluding Money Markets and Savings Accounts) for personal and household
use and we may limit the number of accounts eligible for Overdraft
Privilegesm to one account
per household. Additionally we reserve the right not to approve any
overdrafts against your account until we can verify that your account is
being maintained in good standing, as defined above. ACCOUNT FEES:
Whether we pay or return a Non-Sufficient funds item, a flat per-item
handling fee of $30.00 will be charged to your account as a Non-Sufficient
Funds or Overdraft (NSF/OD) charge, as set forth in our common fees
schedule. Thank you for choosing Union State Bank!
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