You agree to maintain direct deposit of pay or an active checking account relationship with City National Bank during the entire period that the overdraft authorization is in effect.
You should always clear your overdraft balance within 30 days of the first overdraft. You agree to notify the Bank thirty (30) days prior to the cancellation of the direct deposit of pay to the Bank.
The automatic overdraft authorization may be immediately terminated without notice by the Bank upon your cancellation of direct deposit of pay to the Bank or failure to maintain an active checking account relationship with the Bank.
The Bank, while this authorization is in effect, may honor and pay overdraft checks and allow checking overdraft withdrawals from ATM’s, point of sale (POS) machines, VISA Debit Check Card transactions, ACH debits, or other electronic transactions, which in the aggregate are within the agreed upon Overdraft Protection amount. Generally, the Bank’s pay order will be: “on us” items, electronic items, then checks in serial number order.
Each such overdraft paid or returned will be subject to the $25 fee, not to exceed five overdraft fees, and will be included in the maximum Overdraft Protection limit. Any overdraft items above the maximum Overdraft Protection limit may be paid or returned at the Bank’s discretion and assessed a $25 charge for paid or returned items.
Upon honoring an overdraft check or an overdraft withdrawal, notice will be sent to you for each such transaction. Each such overdraft, including the overdraft fees should be paid in full within thirty (30) days after the overdraft first occurs. City National Bank reserves the right to set-off against other related accounts if the account is not paid in full within thirty (30) days from the date of overdraft.
You agree to abide by the Bank’s rules and regulations governing checking accounts (and all amendments thereto) as stated in the signature card “Deposit Account Agreement” and in this brochure.
Upon written notice to you, the Bank may amend this authorization in any respect, including the per item fee. Such notice shall be properly given when enclosed with your checking account statement, in a separate mailing or any other electronic means. If this authorization needs to be amended because of a change in State or Federal Regulations the change shall be effective immediately without notice.
The Bank, or any one of the account holders, may cancel this authorization upon receipt of written notice to the appropriate party. Cancellation by the customer requires written notice to the Bank or verbal discussion, including verification of the customer’s Security Access Code (SAC), at a phone number at the front of this brochure. Cancellation by the customer does not terminate the right of City National Bank to collect any outstanding amounts owed by customer as herein above set forth. |
