You can make or change the Standard Overdraft Practices preference on your account at any time and the decision is effective immediately once recorded.
No. Under Standard Overdraft Practices, payments are authorized at the bank’s discretion and it is not possible to determine in advance which individual transactions might be impacted. That is why you may also want to consider an overdraft protection plan or sign up for online banking alerts to help keep track of your balances.
Standard overdraft fees apply if you overdraw your account and don’t have sufficient funds available at the end of the day.
Fees will be charged per item/transaction (check, in-person withdrawal, ATM withdrawal, point-of-sale transaction, or other paper, electronic, or debit whether paid or returned) as follows:
You may avoid the fee if you temporarily overdraw your account but then a sufficient deposit becomes available that same day. Deposit availability restrictions apply.
Bill payments through online banking, recurring debit card payments, checks and other transactions made using your checking account number may continue to be authorized at our discretion even if you don’t opt in to Standard Overdraft Practices. If we authorize and pay an overdraft transaction on your behalf, standard overdraft fees will apply.
At #BANK_NAME#, we do not process your transactions in the order that you make them or when we receive them. Rather, we post transactions from high-to-low, meaning that at the close of each day, we deduct your highest-dollar transactions first, before deducting your smaller dollar transactions. With this "posting order", you are at a lower risk of having an important item returned, such as a mortgage, rent or car loan payment. However, these larger items will cause your account balance to be used up faster, and, if it falls to zero, you will incur overdrafts or returned items and related fees. As a result, overdraft fees may be incurred more frequently than if we had deducted the transactions in a different order. Remember though, if the available balance in your account does not fall below zero this "posting order" does not matter.
An “outstanding debit card authorization” is the amount deducted from your available balance while we await the final settlement from the merchant. This outstanding authorization amount may be larger, or smaller, than your actual purchase. So while we wait for the merchant’s final settlement, a period that can last several days, your available balance is reduced by the amount of the authorization, not your actual purchase. In some cases when final settlement is delayed, the outstanding authorization is released, which causes your available balance to appear larger than you might otherwise expect.
A merchant’s outstanding debit card authorization request will alter the available balance in your account. If as a consequence, your account’s available balance falls below zero at day’s end, then overdraft fees will be charged.
Yes. The ability to overdraw your account through Standard Overdraft Practices is separate from the overdraft protection plans that can be added to your account. When a debit card transaction exceeds your available balance, your Savings Overdraft or Overdraft Line of Credit is used first to cover the overdraft. Standard Overdraft Practices are only used if funds are needed beyond what is available through your Savings Overdraft or Overdraft Line of Credit.
If you do not opt in to include ATM and everyday debit card transactions in the Standard Overdraft Practices on your account, any of these transactions that exceed your available balance will be declined.
#BANK_NAME# offers a variety of tools to help you manage your finances and avoid overdrafts.