Overdraft Consent
Important Information Regarding Overdrafts & Overdraft Fees
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An overdraft occurs when you do not have enough money in your account to cover a transaction. We can pay the item, covering this overdraft, in two different ways:
- We have standard overdraft practices that come with your account
- We also have overdraft protection plans which may be less expensive than our standard overdraft practices: automatic transfer from savings account or loan overdraft transfer. To learn more about these options, please ask us.
This notice explains our standard overdraft practices that come with your account.
We will authorize and pay overdrafts for the following types of transactions:
- Checks, and other transactions made using your checking account number
- Automatic bill payments
Currently, we will NOT authorize and pay overdrafts for the following types of transactions, unless you ask us to do so (see authorization below):
- ATM transactions
- Point of Sale, everyday, one time debit card transactions
We pay any/all overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
Fees for Overdrafts
Under our standard overdraft practices, we will charge you a fee of $26 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.
Authorize and Pay Overdrafts on ATM and Everyday Debit Card Transactions
Effective August 15, 2010, if you want us to authorize and pay overdrafts on your ATM transactions and everyday, point of sale, debit card transactions, at the standard fee of $26 per item
