Uniform Commercial Code. A general and inclusive group of laws adopted, at least partially, by all the states to further uniformity and fair dealing in business and commercial transactions. The Uniform Commercial Code (UCC) is a set of suggested laws relating to commercial transactions.
A single Overdraft Protection transfer fee will be assessed. The fee depends on which account you have linked to your checking account for Overdraft Protection: 1  Savings account: A daily fee of $12.50 applies for all overdrafts that occur in a single day. 2  Line of credit: Please see your Credit Agreement for the fee and finance charges for advances.
Any unpaid amounts of interest are added to the overdrawn amount in the following month. The interest rate on an overdraft account is usually charged at a percentage over the bankâs prime lending rate, for example, Prime + 3% per annum.t is repayable on demand by the bank at any time. The overdraft limit is the maximum amount that you can overdraw. You pay interest only on the amount that you overdraw. Interest is calculated on the daily balance overdrawn and debited to the account monthly.