An overdraft occurs when the bank pays for a transaction or payment that causes your account to have a negative balance.
There are a variety of ways transactions can cause your account to be overdrawn, including but not limited to:
The best way to avoid these situations is to regularly check your account activity and balance your account frequently. Our online and mobile banking options are designed to make staying on top of your account balances as easy as possible. We also offer additional services to cover potential overdraft situations through the Dynamic Transfer program and Ready Reserve service.1
You will be charged a $37.00 fee for each transaction that we must pay on your behalf, or for each transaction that the bank returns as unpaid.
Your account may be assessed a $30 overdraft notification fee for each notice that we send out when your account remains overdrawn for 5, 10, 15, and 20 consecutive business days. The bank may assess up to six overdraft and insufficient fund fees per day on consumer accounts.
As a courtesy we may, with discretion, pay transactions on your behalf even when you don’t currently have enough money in your account to cover them. You may elect to opt out of this program at any time.
We have an automated system that determines whether an overdraft transaction will be paid or not. In making these decisions we consider factors that include things like the length of your relationship with us, the frequency of your deposits, and your overdraft history. Since these factors can change over time, you should not rely on the bank to pay or to not pay transactions just because we have in the past.
You may elect to not be part of our Courtesy Cash Program at any time. Please visit your local banking center or contact our Client First Center at 877.322.9530.
We will typically process transactions in the following order. Please refer to your Account Terms and Conditions for more details:
Once an overdraft occurs, fees will immediately apply. Overdrawn balances are due immediately, so it is important to make a deposit to cover any overdraft as soon as possible to avoid any future charges.
Yes, we offer Dynamic Transfer, a service that transfers money from another checking, savings, or money market account to cover overdrafts in your checking account. We also offer Ready Reserve, a personal line of credit that can be used to cover overdrafts.1 Fees apply to Ready Reserve, but they are typically less than an overdraft fee. Associates at your local banking center can help you set up Dynamic Transfer, apply for Ready Reserve, and answer any other questions you may have.
1 Subject to credit review and approval.
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