Understanding Your Overdraft Elections

Every time you open a checking or money market savings account with us, you can choose from two optionsSome Overdrafts and All Overdrafts – for payment of your overdrafts.

If you choose to have us pay Some Overdrafts, we may cover and pay all transactions* except for:

  • ATM transactions
  • One-time Debit Card Purchases

Those transactions will generally be declined and, as a result, you'll pay no fee. For all other transactions that result in an overdraft, you will be charged a $35 fee for each paid item, up to six per day. These fees are added to the amount by which your account is overdrawn. We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Any overdrafts that we pay must be promptly repaid by you.

An Example Of How Some Overdrafts Work:

Meet Emily

With a big event coming up, Emily decided to splurge on some nice new shoes that cost $60. When she went to pay, using her debit card, the transaction was declined since it would have overdrawn her account by $10.

The same day, the $75 check she wrote for her utilities came in for processing. The bank paid that transaction, overdrawing Emily's account by $25.

Emily's account is now:

Here's how:

$25 from her check payment
+
$35 overdraft fee

If Emily's account balance remains negative for five(5) consecutive business days, on the 6th business day she will incur a $35 sustained overdraft fee.

If you choose to have us pay All Overdrafts, we may pay any transaction that occurs and will charge you a $35 fee for each paid item, up to six per day, when you have insufficient or unavailable funds.

An Example Of How All Overdrafts Work:

Here's Emily again

When Emily went to buy $60 shoes with her debit card, the $60 transaction was approved, overdrawing her account by $10.

When the $75 check for her utilities came in, it was also paid by the bank.

Emily's account is now:

Here's how:

$10 from her debit card purchase
+
$75 check
+
$70 from two overdraft fees ($35 x 2)

If Emily's account balance remains negative for five(5) consecutive business days, on the 6th business day she will incur a $35 sustained overdraft fee.

If you choose to have us pay All Overdrafts, we may pay any transaction that occurs and will charge you a $35 fee for each paid item, up to six per day, when you have insufficient or unavailable funds.

*We do not guarantee that we will always pay a transaction when you do not have sufficient available funds.