Overdraft Protection Plan - Business Deposit Account Coverage

Transaction Processing

During nightly batch processing, if the available balance in the checking account isn’t sufficient to cover all of the NSF items, a transfer is automatically made from your linked overdraft protection account to your checking account to cover the NSF items.

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

If the linked savings or checking account does not have sufficient funds to cover all the NSF items, we will transfer the amount needed to fully cover as many of the items as possible based on the posting order of each item. Any NSF 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 may result in NSF fees.

Beneficial if

• You occasionally overdraw your checking account.
• You may just want to enjoy some "Peace of Mind" with running your business knowing that your overdrafts will be covered.

Fees

• $10 Transfer Fee Per Day – assessed when a transfer is automatically made to cover an overdraft in your checking account. Your account will only be charged one $10 Transfer Fee on the processing day following the transfer.
• No Transfer Fee is assessed when you proactively transfer funds yourself from the linked savings or checking account to your covered checking account online,  at a financial center, at the ATM or by phone.
• We allow up to three (3) withdrawals/transfers from your savings account per month at no additional cost. There is a $3.00 fee for each transfer or withdrawal from your savings account in excess of three (3) per month. Transfers made from your savings accounts as part of this Overdraft Protection Plan or proactively by you count towards this monthly limit.
• There may be other costs associated with our savings or checking accounts – call or visit your local financial center for details.

Combine with Overdraft Consider

• If the money in your linked account does not cover all of 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.
  • Each NSF item may be assessed a $36 Overdraft Fee, if paid into overdraft, or a $36 NSF Fee, if returned.
  • Overdrawn accounts may be subject to a Sustained Overdraft Fee of $36 if the balance is not brought positive within nine (9) consecutive calendar days.

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 immediately.

Limitations

• There is no limit to the number of overdraft transfers that can be made from the linked account daily or monthly. 
• Although the funds in the linked Savings or Checking account can be used to cover any overdrafts created by ATM or debit card transactions that post to your account during our nightly batch  processing, the authorization of such transactions throughout the day is based upon the available balance in the covered checking account only; the available balance in the linked Savings or Checking account is not used to authorize ATM and debit card transactions on the covered checking account. However as part of our overdraft consideration, we may, at our discretion, authorize such transactions into overdraft even when the available balance in the covered checking account is less than the amount of the transaction(s).

Eligibility

A minimum opening deposit may be required to open a small business savings or checking account; other criteria may apply. Call or visit your local financial center for details.