Overdraft Privilege is a "courtesy overdraft" benefit we offer to customers with eligible checking accounts. With Overdraft Privilege, we may (at our discretion), pay items presented against your account when you don't have sufficient available funds, up to a maximum overdraft limit of $800 for consumer accounts and $1,500 for business accounts. You will still pay an overdraft fee for each item that is paid, but you will avoid the merchant's returned item fee. All fees, including but not limited to NSF/OD fees, will be included in and count against your assigned Overdraft Privilege Limit. Many different types of items may be presented against your account; common items include: checks, ACH, debit card transactions, and ATM withdrawals.
Historically, once you satisfy the requirements for eligibility, we add Overdraft Privilege to your account, and all presented items would be considered for payment.
Federal regulations require that you "Opt-In" if you would like us to consider paying ATM and everyday debit card transactions that may overdraw your account. If we don't hear from you, these transactions will automatically be declined if your current available balance is insufficient at the time of transaction.
The regulations apply only to ATM and everyday debit card transactions and don’t affect other transaction types (checks, ACH, recurring debit card transactions). If your account qualifies, we may still enroll you in Overdraft Privilege and consider paying all items except ATM and everyday debit card transactions; if you would like your coverage extended to include these transaction types, simply let us know.
Although the charges associated with this form of overdraft protection may be higher and the payment of overdrafts remains discretionary, this may be an appropriate "back-up" plan to help you avoid declines for occasional or inadvertent overdrafts.