Overdraft Protection and Privilege
We believe it is important for you to use your checking account responsibly and to never intentionally overdraw your account. However, we realize that financial shortfalls happen from time to time and we have several options available for you. As a benefit to our members, we offer these useful services to cover you in the event that you overdraw your checking account.
Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts:
|
Service |
Cost |
|
Overdraft Protection Link to Another Deposit Account you have at PriorityONE1 |
$5 fee per transfer |
|
Overdraft Protection Line of Credit1, 2 |
Subject to fees + interest |
|
Overdraft Privilege |
$35.00 Paid NSF Fee per item. |
1Call us at (954) 335-5100, email us at [email protected], or come by a branch to sign up or apply for these services; 2Subject to credit approval.
Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at PriorityONE for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the “What Else You Should Know” section included with this disclosure for other important information.
|
Transactions covered with Overdraft Privilege |
Standard Coverage (No action required) |
Extended Coverage (Your consent required on consumer accounts) * |
If you would like to select Extended Coverage for future transactions:
|
|
Checks |
X |
X |
|
|
ACH - Automatic Debits |
X |
X |
|
|
Recurring Debit Card Transactions |
X |
X |
|
|
Online Bill Pay Items |
X |
X |
|
|
Internet Banking Transfers |
X |
X |
|
|
Telephone Banking |
X |
X |
|
|
Teller Window Transactions |
X |
X |
|
|
ATM Transactions |
|
X* |
|
|
Everyday Debit Card Transactions |
|
X* |
*If you choose Extended Coverage on your account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again.
You can discontinue Overdraft Privilege in its entirety by contacting us at (954) 335-5100 or sending us an e-mail at [email protected].
