Overdraft Protection Services

Did you know you can sign up to link 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 and 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. Compare your options below.

Savings

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Preferred Plus Line of Credit

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Home Equity Line of Credit

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How does Overdraft Protection work?
The savings transfer covers the amount of the overdraft (in $100 increments). Coverage is based on the available savings or money market account balance. The Preferred Plus Line of Credit advance covers or exceeds the amount of the overdraft (in $100 increments) based on the remaining available credit. The Home Equity Line advance covers or exceeds the amount of the overdraft (in $100 increments) based on the remaining available credit.
Which option is best for you?
If you like to minimize outstanding debt and have an established savings plan If you don’t own a home, and prefer to have a line of credit If you own a home and appreciate the tax advantages of a Home Equity Line of Credit. (Consult your tax adviser about interest deductibility.)
Do you pay interest on overdraft advances?
No. Interest is paid the same way as any other advance on your Preferred Plus Line of Credit. Interest is paid the same way as any other advance on your Home Equity Line of Credit.
Are there any restrictions on the number of transfers per month?
Federal regulations restrict the number of transfers to six per month.* No limit; based on available remaining credit. No limit; based on available remaining credit.
What are your repayment options?
N/A Repayment is based on the terms of the Preferred Plus Line of Credit. Repayment is based on the terms of the Home Equity Line of Credit.
How will you know if your overdraft protection was activated?
The overdraft transfer will appear on your checking and savings statement. It also appears in your Online Banking and Mobile Banking account activity. A fee of $10 per transfer will be charged to your savings or money market account. The overdraft advance will appear on your monthly Preferred Plus Line of Credit statement and checking account statement. It also appears in your Online Banking and Mobile Banking account activity. The overdraft advance will appear on your monthly Home Equity Line of Credit statement and checking account statement. It also appears in your Online Banking and Mobile Banking account activity.

*By law, certain types of withdrawals are limited. Withdrawals over the limits are excess activity. You may make up to a combined total of 6 withdrawals per monthly statement cycle (or calendar month if you receive a quarterly statement) by either check, draft, debit card purchase or similar order (if available on the account,) telephone, automatic or pre-authorized transfer to another of your accounts with us or to a third party. Such transfers include those made by Telephone Banking Line, Online Banking and transfers from your savings account to cover overdrafts. The excess activity fee will be assessed each time you exceed any of these limits.