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Overdraft Services Comparison
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No Overdraft Coverage
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Formerly know as
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Overdraft Privilege
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MoneyMover
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CheckMate
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None
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How does it work
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Bank pays overdraft transaction(s) on your behalf
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Funds are transferred out of designated account to cover overdraft transaction(s)
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Line of credit covers overdraft transaction(s)
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All checks, ATM, and debit card transactions are declined if you do not have enough money in your account
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Associated Fee
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$32
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$7
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$7
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$32 Insufficient Funds fee for each returned check
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Number of Overdrafts Covered
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Bank’s discretion
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Covers up to amount held in designated account
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Covers up to amount authorized on line of credit
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None
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Limitations
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Privilege is offered and remains at bank’s discretion
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Transfer amount is limited by amount in account(s)
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Overdraft line of credit is determined by credit worthiness
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Checks will be returned and merchant returned check fees will apply
When you do not have enough money in your account:
ATM and Debit card transactions will be declined
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Benefits
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Reduces merchant returned check(s) charges related to returned checks; Provides emergency funds for check, ATM, and debit card transactions when there is not enough money in your account
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Overdrafts are drawn on customer’s account not bank; Lower fee
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Overdrafts are drawn on customer’s line of credit not bank; Lower fee; Fixed interest rate; flexible repayment schedule
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Bank fees may be lower as all checks will be returned and all ATM and debit card authorizations will be declined
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Take a look at the Overdraft Services Brochure. Have other questions we can answer?
