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Overdraft Privilege
Overdraft Privilege is a convenient service established on all eligible personal checking accounts (accounts used primarily for personal and household purposes). For accounts in good standing, we will consider, without obligation, payment of reasonable overdrafts, rather than automatically returning unpaid any insufficient funds item that you may have. Overdraft(s) up to $1,500 on all personal checking accounts ($750 on free checking) will normally be considered. With Overdraft Privilege, customers may have fewer charges from retailers for returned checks, more convenience and flexibility in managing funds, and less aggravation and embarrassment from returned checks. Normal Insufficient Fund/Overdraft Fee(s) will apply to each item that would create an overdraft on your account. A notice will be sent each time an overdraft occurs.
This service requires no action on the part of the customer, no documents or agreement to sign and costs nothing unless Overdraft Privilege is used.
The Overdraft Privilege brochure should be read carefully. A copy of this brochure is available at any Wallis State Bank location or call and request one be mailed. Restrictions do apply.
Automatic Overdraft Protection Transfer
Automatic Overdraft Protection allows a transfer from another Wallis State Bank account automatically to pay insufficient item(s), which may help to avoid Overdraft Item/Insufficient Fund fees. Transfers are made in minimum increments of $250.00, up to the available balance in the account. Transfers from savings and money market accounts are limited, and excess withdrawals will result in Excessive Withdrawal Fee(s) and possible reclassification of the account. |
