Overdraft Protection Plan – Business Line of Credit

Your business checking account can be linked to a Business Line of Credit for overdraft protection.

Transaction Processing

After nightly batch processing when all transactions have posted to your checking account, if the available balance in the checking account isn’t sufficient to cover all of the transactions presented for payment, a transfer is automatically made from the Line of Credit to your checking account to cover the NSF items.

Transfers are made in the exact amount needed to cover the NSF items.

If the Line of Credit does not have sufficient funds to cover all of the NSF items, we will transfer the amount needed to fully cover as many of the items possible based on the posting order of each item. Any item(s) in your checking account that cannot be fully covered under this Overdraft Protection Plan may result in an overdraft, and overdraft fees, if paid, or may be returned for Non-Sufficient Funds and assessed NSF Fees.

Beneficial if

• You need a revolving credit line that can also be used as overdraft protection
• You want to be able to make an unlimited number of transfers from the line of credit to your checking account (subject to the available limit in the credit line)
• You want to be able to directly access your overdraft protection line with special line of credit checks.

Costs

• There is no Transfer Fee with the Business Line of Credit. Transfers can be made systematically as part of this Overdraft Protection Plan or proactively by you with no Transfer Fee.
• Overdraft/Non-Sufficient Funds Fee – each $36. Any NSF item(s) not fully covered by the Line of Credit account may be assessed an Overdraft Fee, if paid into overdraft. With Business checking accounts, NSF fees if  may be assessed, if items are returned unpaid.
• Sustained Overdraft Fee² - $36
• The Line of Credit comes with no annual fee; for details on rates and other terms and conditions call or visit your local branch for details.

Combine with Overdraft Consideration¹

• If the money in your Business Line of Credit account does not cover all your NSF items, our overdraft consideration allows us to consider paying the remaining item(s) into overdraft subject to the following: This service is automatically provided with your check, ACH, automatic bill payment, ATM and debit card transactions.
• For business checking accounts, each NSF item may be assessed a $36 Overdraft Fee, if paid into overdraft, or a $36 NSF Fee, if returned.
• For business checking accounts, overdrawn accounts may be subject to a Sustained Overdraft Fee of $36 if the balance is not brought positive within nine (9) calendar days ².

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Even if we pay your account into overdraft, we maintain the right not to do so at any other time. If we do not authorize your transaction, it will generally be declined and may not be paid into overdraft. Once you have overdrawn your account, you must bring it to a positive balance as soon as possible to avoid additional fees.

Limitations

In order for the automatic transfers to occur as part of our Overdraft Protection Plan, the Business Line of Credit must be current and in good standing.

Eligibility

Normal credit criteria apply. Call or visit your local financial center for details.