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.
An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.In this situation the account is said to be  overdrawn .If there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest is normally charged at the agreed rate. Intraday overdraft â A debit occurs in the customerâs account resulting in an overdraft which is then covered by a credit that posts to the account during the same business day. 2  Whether this actually results in overdraft fees depends on the deposit-account holder agreement of the particular bank.