With our Standard Overdraft Coverage, we may authorize and pay items into overdraft such as checks, ACH items, ATM and debit card transactions. Your small business account automatically comes with our Standard Overdraft Coverage 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 ATM and debit card transactions, it will be declined and it will not be paid into overdraft, and you will not be assessed an overdraft fee. If we do not pay your checks and ACH items into overdraft, they will be returned and assessed an NSF fee.
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.
Yes, personal accounts are eligible to receive coverage from an Overdraft Protection Plan, such as from another personal checking or savings account, or from a Handyline, Preferred Line of Credit or a Home Equity Line of Credit.
Personal accounts are also eligible for Standard Overdraft Coverage, although you need to opt-in to this service if you want us to consider authorizing and paying your ATM and everyday debit card transactions into overdraft. You can opt in by calling 1-800-448-8812 or visiting your local branch. You can change this election at any time. Please allow up to 72 hours for your election to be updated.
Transfers systematically made from another checking 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 the 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.