With our Standard Overdraft Coverage, we may authorize and pay items into overdraft such as checks and other transactions made using your checking account number, automatic bill payments, and transactions made with your debit card. Our Standard Overdraft Coverage is automatically applied to these transactions and overdraft fees may be assessed on each item paid into overdraft.
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 transactions, it will be declined and it will not be paid into overdraft.
The available balance in your account is the ending balance on the previous banking day after we have posted transactions, plus or minus pending transactions (such as deposits, debit card transactions or ATM withdrawals) that have not yet been posted to your account, and minus any holds that we have placed on your account. The available balance does not include (i) transactions that have not been presented for payment, such as checks that you have issued or debit card transactions that you have made that were not authorized by us for the merchant, or (ii) holds for debit card transactions that we authorized for a merchant but were released. Your available balance and ledger balance are not the same.
Your ledger balance is the balance of funds in your account based solely on deposits and withdrawals posted during nightly processing. Your ledger balance does not include amounts subject to a hold. Your ledger balance may be more than the amount of your available balance and may not be available for withdrawal or immediate use. For example, the balance reflected on your account statement for any given date is your ledger balance on that date.
We use the available balance in your account to (i) pay an ATM or debit card transaction, or (ii) pay or return a check, ACH debit or other item. The Available Balance and Ledger Balance section of the Deposit Agreement explains the difference between your available balance and your ledger balance. Your available balance may be reduced by pending transactions as described below.
We post transactions to your available balance in a particular order. Generally, we post deposits and other credits received by us before the deposit cut-off time first, and then we post withdrawals and debits (such as checks and electronic debits) by categories and priorities within the category. The withdrawals are placed in categories defined by us based on the type of withdrawal. The following are examples of the types of withdrawals in the sequence in which the categories are posted:
The priorities of posting debits within the categories listed above are based on the type of withdrawal and whether the withdrawal contains a check or serial number or whether we can determine the date and time of the authorization or initiation of an electronic debit. For example, debits, such as checks that you issue, are posted in check number sequence and certain electronic debits are posted based on the date and time they are authorized or initiated. Also note, the date and time of authorization or initiation of an electronic debit we receive for processing may differ from the date and time they are authorized or initiated by you due to many factors outside of our control, including the merchant’s processes. If we cannot determine this information, we will generally post the debits each day in ascending order from the lowest amount to the highest amount. We reserve the right to change the categories, the posting order sequence, and the sequence of posting transactions within these categories at any time without notice to you.
We offer a variety of Overdraft Protection Plans, which allow you to have funds automatically transferred to your business checking account from another Hancock Whitney account such as another business checking or savings account or a business line of credit. Only one Overdraft Protection product can be linked to your checking account.
For coverage from another business checking or savings account or from a Business Line of Credit, if your checking account balance will be overdrawn after processing at the end of the banking day, we will systematically transfer funds in the exact amount needed from the linked account to cover the overdraft up to the available balance in the linked checking or savings, or the available limit in the line of credit.
Please note that you can also proactively transfer funds from the linked account to your covered checking account.
These overdraft protection plans may also vary in the type coverage they provide. Please ask us about these plans for more details.
We charge $36 for each item paid into overdraft and $36 for each item returned for Insufficient Funds (NSF).
Yes, personal accounts are eligible for both. Please refer to our personal Overdraft Services page on this website, call us at 1-800-448-8812 or visit any Hancock Whitney Financial Center to learn more.
Transfers systematically made from another business checking account or savings account are $10 per transfer per day. There are no transfer fees to proactively transfer funds to your checking account in anticipation of an overdraft situation.
There are no transfer fees on transfers made from a business line of credit whether systematically made or proactively transferred by you.
Interest may accrue on outstanding balances maintained in the business line of credit.
For each time your account remains overdrawn at least nine (9) calendar days, we will assess one Sustained Overdraft Fee of $36. Please note that we count as the first day of the nine consecutive calendar days the day on which we post the items which created the overdraft in your account, regardless of whether we have provided you with notice of the overdraft(s). We will not charge this fee if you pay us the total amount of the overdrawn balance on the ninth (9th) calendar day or the next banking day, if the 9th calendar day falls on a weekend or federal holiday that is not a banking day. We will also not charge this fee if the amount overdrawn only includes bank fees and/or service charges as described in the Service Charges and Fees section of the Deposit Agreement or as set forth in Business Services Information Disclosure Schedule of Fees.
Banking services that can assist you in avoiding fees, and unauthorized or returned items include direct deposit, online banking, including activating the receipt of balance alerts, and mobile banking via tablet, smartphone or similar device.
You can call us at 1-800-448-8812, visit your local branch or refer to the Deposit Agreement that came with your checking account.