The Overdraft Setting for your checking account determines how the bank handles your transactions when you don't have enough money in your checking account or your linked Overdraft Protection account at the time of the transaction. We pay overdrafts at our discretion based on factors such as the purchase or withdrawal amount and your account history, which means we don't guarantee that we'll always authorize and pay any type of transaction. We typically don't pay overdrafts if your account isn't in good standing or you aren't making regular deposits. We reserve the right to require you to pay overdrafts immediately.
Standard Setting. The Standard Overdraft Setting is automatically applied to new consumer checking accounts (excluding SafeBalance Banking accounts, which are automatically set to the Decline All Setting).
With the Standard Setting:
- ATM withdrawals and every day, non-recurring debit card transactions (individual debit card purchases such as at the grocery store or a one-time online purchase), will only be authorized when we determine you have enough available funds in your account or in your linked Overdraft Protection account at the time of the transaction. Otherwise, we typically decline the transaction and we do not charge an Overdraft Item fee.
- For other types of transactions-like checks, Online Bill Pay and other electronic payments, as well as recurring debit card payments-we may pay transactions when you don't have enough available funds in your checking account or linked Overdraft Protection account at the time of the transaction.
- If we pay a transaction that's larger than your Available Balance and it overdraws your account, this typically results in a charge for each overdraft item, unless you deposit enough available funds that day to cover the overdraft.
- If we return the item unpaid, this typically results in a NSF: Returned Item fee.
- View our checking accounts for details.
Decline All Setting. You can request a Decline All Overdraft Setting on your account. The Decline All Setting is automatically applied to SafeBalance Banking accounts. With this setting, we only authorize an everyday debit card purchase, ATM withdrawal, check, Online Bill Pay and other electronic payment when we determine there's enough money available in your account or in your linked Overdraft Protection account at the time of transaction. When there aren't enough funds:
- For ATM withdrawals and everyday debit card purchases our standard practice is to decline the transaction and not charge an Overdraft Item fee.
- For checks, Online Bill Pay or other electronic payments, we may return the item and charge a NSF: Returned Item fee. (See below FAQ for information about SafeBalance Banking accounts).
You can change your Overdraft Setting by calling 1.800.432.1000, Mon.-Fri. 7 a.m.-10 p.m. ET and Sat.-Sun. 8 a.m.-5 p.m. ET, or by visiting a banking center.