Take control of your finances by
understanding overdraft services and other strategies you can use
to help you manage your accounts.
Overdraft services include how we
handle transactions that would overdraw your account, as well as,
ways to prevent overdrafts from occurring. Sandy Spring Bank offers
two kinds of overdraft services:
1. Standard Overdraft
Services refers to the flat fee that we charge to cover
each occurrence of an overdraft. The fee is currently $37. If your
account is overdrawn for seven (7) consecutive calendar days, we
will charge an additional $5.00 per day. You have the option to
"Opt In" to the Bank's Standard Overdraft Services
in order for an overdraft resulting from a debit or ATM card
transaction to be paid and a fee to be assessed*. If you do not
"Opt In," any debit or ATM transaction that would overdraw your
account will not be paid and no fee will be assessed.
Standard Overdraft Services fees will continue to apply for
overdrafts from check and online bill pay
here to learn more about Standard Overdraft Services.
Protection is a service you can sign up for that links
your checking account to a personal line of credit, home equity
line of credit or a savings account to cover overdrafts. When your
checking account does not have sufficient funds to cover your
transactions, the funds are automatically transferred from your
linked account to cover your transactions. The service is designed
to give you more flexibility when you need to make purchases and
don't have enough money in your checking account at the time of the
transaction. Overdraft Protection helps prevent declined
transactions, returned checks or other overdrafts on your accounts.
Depending on what type of overdraft protection and type of checking
account you have, there may be fees for these services, but they
are generally less costly than standard overdraft fees. Click here to compare
*Items are approved for accounts generally in good standing. We
pay overdrafts at our discretion, which means we do not guarantee
that we will always authorize and pay any type of transaction.
In addition, here are some other helpful tips.
- Use BankXpress Online
Banking to find out how much money you have in your
account. Remember to subtract any of your transactions that aren't
listed in Online Banking as those might come to Sandy Spring Bank
later in the day and reduce your available balance.
- Sign up for Email
Alerts such as our Low Balance Alert. Alerts notify
you when you reach a certain balance that you set. Getting notified
automatically about account activity and balances can help you stay
on top of your transactions and balances.
- Transfer funds between
accounts. You can make a transfer in Online Banking,
or through telephone banking, so that you have enough funds for a
purchase or ATM withdrawal.
- Balance your
checkbook to keep track of all your deposits and
- Make a
budget. Write down all your sources of
income and your expenses. Then, determine how you can cut back on
what you're spending. Start yours today by using our online Home Budget calculator.