What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.
1. We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
2. We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- ATM transactions
- Everyday debit card transactions
3. We will continue to pay overdrafts at our discretion, which means that we will not always authorize and pay any type of transaction, in which case your transaction will be declined.
4. Under our standard overdraft practices:
- We will charge you a fee of up to $25 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
5. If you want us to authorize and pay overdrafts at our discretion on ATM and everyday debit card transactions, complete the information below, call 901-854-2265, or complete the information below, print and present it at a branch or mail it to:
The Bank of Fayette County
P.O. Box 519
Rossville, TN 38066